Temu, a newer entrant, saw its estimated transaction value soar nearly twentyfold to 600.2 billion won in one year – from 2023 to 2024.Their bigger rival JD.com’s advance into Korea is expected to further fuel the so-called C-commerce wave, which is poised to reshape the Korean e-commerce landscape.JD.com is one of China’s top three e-commerce players alongside AliExpress operator Alibaba and Temu operator PDD Holdings.JD.com reaped 1.16 trillion yuan ($158.9 billion) in sales last year, followed by Alibaba with 1.02 trillion yuan and PDD Holdings with 393.8 billion yuan.JD.com’s annual revenue is nearly five times that of Korea’s leading e-commerce platform operator, Coupang Inc.
This marks the first time a major Chinese e-commerce company has independently operated logistics infrastructure in Korea – a move widely viewed as a precursor to full market entry.In parallel, JD.com has signed last-mile delivery deals with major Korean logistics providers, CJ Logistics Corp.and Lotte Global Logistics Co., indicating that it may soon transition from a business-to-business provider to a full-scale direct-to-consumer retailer in Korea.“JD.com typically enters foreign markets by building logistics centers first,” said a Korean industry official.
The move signals its broader push into the Korean market, setting the stage for fiercer competition with fellow Chinese platforms AliExpress and Temu, and stoking concerns among Korean players already feeling the bite from the rapid rise of the Chinese rivals.JD.com’s Korean operation on Thursday announced that the Chinese e-commerce giant has opened fulfillment centers in Incheon and Icheon.
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