Alibaba ( BABA ) Group’s AliExpress International agreed to merge its South Korean operations with E-Mart’s e-commerce platform, Gmarket, in a 50-50 joint venture, according to a stock exchange filing by E-Mart. The companies plan to make further investments in the JV, which will own 100% of Gmarket, and the new entity could be valued at about $4B, people familiar with the matter told Bloomberg.

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