JD.com unveils ‘Korean Mall’ in SK
Print Edition
CHINESE B2C e-commerce giant JD.com Inc yesterday launched its online imported goods platform “Korean Mall” in Seoul, a major step of developing its South Korean market.
Liu Qiangdong, founder and CEO of JD.com, yesterday announced the opening of “Korean Mall” in a seminar co-held by South Korea’s leading e-commerce solution provider cafe24, which is also one of JD.com’s local partners.
Liu said “Korean Mall” will focus on satisfying rising demand driven by K-pop among Chinese consumers for Korean products, including clothes, cosmetics, electronics and others. By opening online shops on JD.com, Korean entrepreneurs will have more opportunities to offer goods directly to Chinese customers, diversifying sales channels.
“The surprising growth rate of JD.com will be a great opportunity for any local company to enter the Chinese market,” said Lee Jae-seok, CEO of SimpleX Internet which operates cafe24, adding that they will closely work with JD.com to help stimulate e-commerce trade between China and South Korea.
In 2014, JD.com sold around 3.8 million mobile phones, more than 4.02 million IT products and nearly 2 million South Korean-brand cosmetics with the total turnover of 10 billion yuan (US$1.6 billion). JD.com estimated the turnover of products with Korean brands will exceed 50 billion yuan in the next three years.
“We aim to absorb more than 1,000 Korean enterprises to sell their products on JD.com by the end of this year,” said Liu.
Liu said JD.com plans a storage base in South Korea.
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