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Korean gov’t, e-commerce firms to assess China’s impact on industry

Collected: 2024.02.14

Distributed: 2024.02.15

Source: Go Direct

[Courtesy of Temu]

The South Korean government will collaborate with major e-commerce companies such as Coupang Inc. and Gmarket Inc. to conduct an evaluation of the influence of Chinese online shopping malls such as AliExpress and Temu on the domestic retail industry.

According to sources on Tuesday, the Ministry of Trade, Industry and Energy will host a meeting with the local e-commerce players at the Korea Chamber of Commerce and Industry building in Seoul on Wednesday.

The meeting will be attended by representatives from the Korean Distribution Association (KODIA) and officials from Coupang, 11Street Co., Gmarket, and SSG.com Corp.

The meeting will begin with a presentation by Professor Jung Yeon-sung from Dankook University’s Department of Business Administration.

The Korean government has been consistently organizing forums addressing the infiltration of overseas e-commerce, especially from China, into the Korean market.

In December 2023, a meeting chaired by the ministry’s policy director for mid-sized enterprises focused on discussions with domestic e-commerce stakeholders regarding the impact of direct online purchases by domestic consumers from foreign sources.

With the rising influence of Chinese companies in the Korean online shopping mall market, the government aims to accurately assess the current situation.

The outcome of the government’s discussion is closely watched as it could potentially evolve into measures to curb unfair practices by Chinese e-commerce platforms in the future.

By Park Chang-young and Minu Kim

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