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…
The Chinese e-commerce giant JD.com has established a subsidiary in South Korea to directly import Korean consumer goods for sale within the Chinese market, according to the country's trade ministry. To provide further context, the Ministry of Trade, Industry and Resources, along with Korea Trade-Investment Promotion Agency (KOTRA) and JD.com, jointly organized a briefing for approximately 200 Korean consumer goods companies.
As part of the event, individual meetings were conducted, resulting in several Korean firms signing agreements valued at a total of $1.5 million to distribute their products through JD.com's business-to-consumer (B2C) platform in China. JD.com's intentions are to escalate its direct purchases of Korean consumer goods, driven by the anticipated surge in local demand for K-beauty and K-food products, fueled by the global fascination with Korean culture.
The government has pledged comprehensive assistance to Korean entities aiming to penetrate the Chinese market via prominent e-commerce platforms like JD.com. It is noteworthy that Korean exports of consumer goods to China have recently achieved a record high.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
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