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As Chinese e-commerce giants like AliExpress and Pinduoduo expand their presence in South Korea's online shopping market, concerns about the impact on domestic industries and consumers are rising. The lack of strategic support for South Korean firms exposes them to increased competition.
Expert Perspectives on the Situation
According to Korea Bizwire, Jung Yeon Sung of Dankook University highlighted the challenges local companies face due to the aggressive approach of Chinese platforms.
Jung emphasized the need for measures to protect consumers, enhance the value of Korean products, and revitalize local online shopping platforms. Suggestions included establishing overseas sales centers for small businesses and requiring Chinese e-commerce servers to be located in South Korea.
Experts in a panel discussion stressed the importance of implementing mechanisms to block potentially harmful products sold on Chinese platforms. Immediate actions are seen as crucial to enforce policies effectively.
Shin Ji Hye from Hankuk University of Foreign Studies pointed out the regulatory compliance costs borne by Korean companies, affecting their ability to compete with Chinese rivals on pricing.
Concerns Among Home-Grown Retailers
Korea Times reported that local retail platforms like Shinsegae, SK, and Coupang are closely monitoring the situation as sellers increasingly opt for AliExpress due to attractive incentives. The competition intensifies as Chinese firms aim to expand their market share in South Korea.
AliExpress' Impact and Expansion Plans
AliExpress' strategic moves are causing unease among Korean businesses. The platform targets shoppers and aims to onboard more sellers. Massive investments in the region signal the company's ambitious growth plans.
Data from Brich, a Seoul-based shopping solution provider, reveals that many Korean sellers are interested in joining AliExpress. The platform's appeal lies in its promising opportunities for local businesses to reach a broader market.
As the competition between Chinese e-commerce giants and local players heats up, South Korea faces the challenge of balancing consumer interests, protecting domestic industries, and fostering a competitive online retail environment.
Photo: PR Newswire
