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Alibaba Group (BABA.NYSE) denies report on South Korea investment plan

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2015-01-13 GMT+8:00

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, zhangyuenan@xinhua.org)

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