Alibaba, South Korea city in talks for 1t won joint investment: paper
[SEOUL] China's Alibaba Group is in talks with the South Korean city of Incheon for a 1 trillion won (about US$923 million) joint investment on a new business complex, the Dong-A Ilbo daily reported on Monday.
The paper, without citing direct sources, said the complex would include a major shopping mall as well as a hotel and a logistics centre. Alibaba and Incheon would contribute equal funding for the complex, according to the report.
Alibaba could not be immediately reached for comment, while an Incheon city spokeswoman said she was checking on the veracity of the report.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US mulls first green-bond sales to tap a US$2.6 trillion market
US factory activity shrinks with price gauge highest since 2022
Hong Kong faces uphill battle to lure back Chinese tourists
Weak yen boosts tourist wallets in Japan
Gas prices are putting Washington’s boldest climate policy at risk
India collects record 2.10 trillion rupees as goods and services tax in April