Alibaba Group (BABA.NYSE) denies report on South Korea investment plan
BEIJING, Jan. 12 (Xinhua) -- Alibaba Group (BABA.NYSE) denied earlier report that it would invest 5.7 billion yuan to build an "Alibaba town" in South Korea.
The e-commerce giant made the denial on late Monday via its official Weibo account.
Reports on earlier Monday said the New York-listed Chinese company would put in some 5.7 billion yuan to build a 1 million-square meter "Alibaba town" in Inchon, a port city near Seoul, the capital city of South Korea.
Alibaba denied any part of the report and claimed it was totally fake news.
(Edited by Zhang Yuenan, email@example.com)