Alibaba invests $1.1 billion in South Korea to challenge Coupang, causing stock to drop.

From Nasdaq:

Alibaba investors traded out of stock following reports of a $1.1 billion investment in South Korea to challenge e-commerce leader Coupang. Plans include a logistics hub near Seoul and selling Korean products abroad. With competition in South Korea fierce, investor interest in Alibaba’s success remains high.

Alibaba’s push into South Korea signals a bold move against established competition. While the company already has a presence in the country, competing with Coupang will be a challenge. Investors will be watching closely to see if Alibaba can gain market share and succeed in this new venture.



Read more at Nasdaq: Why Alibaba Stock Dived by Nearly 4% Today