Chinese e-commerce platform JD.com to directly import Korean products
Chinese e-commerce giant JD.com has set up a business entity in Korea to directly purchase Korean consumer goods for sale in China, the trade ministry said Wednesday. The Ministry of Trade, Industry and Resources, the Korea Trade-Investment Promotion Agency (KOTRA) and JD.com jointly held a briefing on the company's business model for some 200 Korean consumer goods companies, the ministry said in…
Chinese e-commerce giant JD.com has established a business presence in South Korea to directly import and sell Korean consumer goods within the Chinese market, according to the nation's trade ministry. The Ministry of Trade, Industry and Resources, along with the Korea Trade-Investment Promotion Agency (KOTRA) and JD.com, organized a briefing to introduce this novel business model to approximately 200 Korean consumer goods firms.
Following the event, multiple Korean companies signed agreements worth a total of $1.5 million to utilize JD.com's B2C platform for shipping their products to China. JD.com intends to bolster its direct procurement of consumer goods from Korea, as the demand for K-beauty and K-food items is projected to surge in China due to the global fascination with Korean culture.
The Chinese government pledges to offer comprehensive support to Korean enterprises aiming to penetrate the Chinese market through prominent e-commerce giants like JD.com. Korean exports of consumer goods to China recently reached an all-time high.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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