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China’s e-commerce platforms help unlock global markets for South Korean brands
China’s cross-border platforms, which sell to millions of shoppers, are acting as a low-cost route to overseas customers in several regions
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South Korean e-commerce companies are increasingly turning to Chinese platforms to help sellers tap rising demand for Korean products, offering a lower-cost route into China and other overseas markets without building local operations.
11street, one of South Korea’s major online marketplaces, recently opened a storefront on JD Worldwide, JD.com’s cross-border e-commerce platform, where about 700 million consumers have made at least one purchase over the past year.
The store carries products from about 350 Korean brands, led by beauty labels, processed foods, fashion items and health supplements. Sellers would only need to register their products, as logistics, marketing and other operations would be handled by platforms acting as intermediaries, the company said.
“We hope the store will serve as a catalyst for revitalising e-commerce between Korea and China,” said Shin Hyun-ho, executive director of corporate strategy at 11street.
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