Korea's antitrust regulator has delayed its review of the joint venture between retail giants Shinsegae (KRX:004170) and China's Alibaba International, postponing its launch by the second half of 2025, Pulse News reported Monday.
The parties are proposing to combine e-commerce sites Gmarket and AliExpress Korea under Grand Opus Holdings, according to the report.
The companies filed for a review with the Fair Trade Commission in January, with the process estimated to last up to 90 days, the report said.
However, required additional documentation from the watchdog has delayed the process, the report said.
The regulator is looking at the venture's effect on competition, as it could potentially lead to restrictions if its market is determined as the cross-border e-commerce segment, according to the report.
Alibaba International is part of Alibaba Group Holding Ltd. (HKG:9988).
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