On January 11, 2010, KOTRA announced that Cho Hwan-eik, president of KOTRA which is the biggest electronic commerce enterprise in China concluded the contracts on operating an online wholesale market.
MOU allows Korean enterprises to increase online sales volume through Korea Chanel on Alibaba.com. KOTRA and Alibaba have been running Korea Chanel by way of showing an example since August 2009, and also they are selling popular Korean brand products such as clothes, bags, shoes, cosmetics, crystal lights, and films.
Alibaba will set up a unit to take charge of public relations, and Alibaba will advertise extensively by using newspapers, placards, posters and billboards. An official of Alibaba said, "If an international payment system is developed in March, the enterprises that do not have a bank account in China are still able to buy all the products in Alibaba's online shopping mall."
