AliExpress, an international e-commerce platform owned by Alibaba, is set to invest KRW 100 billion ($75.7 million) in South Korea this year, the country’s official news outlet Yonhap News Agency reported on Thursday. The move will see China’s top online retailer attempt to strengthen its presence in the world’s fifth-largest e-commerce market. The report said AliExpress is currently establishing a new warehouse of around 15,150 square meters in Weihai, China’s closest coastal city to South Korea. Ray Zhang, head of AliExpress Korea, says there is no plan to build a logistics center in South Korea itself. As of last September, AliExpress has amassed 2.72 million users since entering the East Asian market in 2018, according to a report by Korea Consumer Agency. [Yonhap News Agency]