Alibaba intends to invest $1.1 billion in South Korea: Yonhap

According to a business strategy paper the company released on Thursday, Yonhap, a South Korean news agency, claimed that Alibaba Group opens new tab aims to invest $1.1 billion in South Korea over the next three years to create a logisticscenter and expand businesses.  

According to the article, the massive Chinese e-commerce company intends to invest $200 million in the construction of the logisticscenter and $100 million in assisting small and mid-sized South Korean businesses in selling their goods abroad. 

Alibaba did not answer a reporter's request for comment right away.  

The personal data protection watchdog in South Korea announced earlier this month that it is investigating the customer data policies of major international shopping sites, such as Alibaba's AliExpress.