Alibaba, South Korea city in talks for 1 trillion won joint investment: paper

Reuters News
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Posted: Jan 11, 2015 9:17 PM

SEOUL (Reuters) - China's Alibaba Group Holding Ltd is in talks with the South Korean city of Incheon for a 1 trillion won (about $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 center. 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.

($1 = 1,083.6400 won)

(Reporting by Se Young Lee and Joyce Lee; Editing by Gopakumar Warrier)