Alibaba plans to invest $1.1b in South Korea

Alibaba Group, the company of Chinese ecommerce giant AliExpress, has plans to invest $1.1 billion in South Korea during the next three years to build a logistics center and expand businesses, according to Asia-based media outlets.

Alibaba hopes to create 3,000 jobs directly or indirectly in the next three years through this investment.

The firm plans to make a first investment of $200 million to build a 180,000-square-meter (1.9 million-square-foot) logistics center in South Korea. If the plan proceeds, the facility will become the largest of its kind in Korea, according to reports. Another $100 million would help small and mid-sized South Korean firms sell their products overseas.