Alibaba to open exclusive website for Korean-made products

This file photo provided by Alibaba.com shows its exclusive website for South Korean products, which will be available in the second quarter of 2024. [YONHAP]

Alibaba, China's largest online marketplace, said Wednesday it will open an exclusive website for Korean companies in the second half, reflecting a growing demand from B2B buyers for Korean-made products.

Korean products have been available on the Chinese platform, but there has been no such site that showcases only the products of Korean sellers, the company said in a statement.

Alibaba has selected Korea as the first batch of countries in Asia to launch the dedicated website to help local small- and medium-size enterprises (SMEs) expand overseas sales, it said.

"Through Alibaba's exclusive Korean website and the membership trial program, we hope to enhance the competitiveness of Korean SMEs and expand their overseas sales channels," Marco Yang, head of Alibaba Korea, said in the statement.

The membership trial program will allow Korean SMEs to sell their products through the exclusive site at an annual fee of 280,000 won ($199), it said.

In the 12 months through June, demand for Korean products sharply increased at Alibaba, with sales of auto parts jumping more than three times, those of instant noodle "ramyeon" soaring 82 percent, skin care product sales up 80 percent and red ginseng sales up 69 percent from a year earlier, it said.

Yonhap