Korea’s CJ E&M announced on Thursday it has opened “K-City” page on global e-commerce site Qoo10 to distribute Korean dramas and other contents.

Qoo10, dubbed Amazon of Southeast Asia, has a market share of 95 percent in Singapore and is expanding its services to Indonesia, Malaysia, China and Hong Kong.

CJ E&M shares rose 1.7 percent on Thursday and end the day at 89,800 won ($83.24).

CJ E&M said it aims to increase its presence in China, Japan and Southeast Asia by focusing on Hallyu content, and it will create a new market by collaborating with local platform operators.

According to the Singapore Business Review, Singapore`s online commerce market is expected to grow 11.7 percent by 2020, exceed $7.4 billion.

Singapore is the most wired market in Southeast Asia, with 84 percent of its population accessing internet sites every day while 3 out of 5 people shop online.

“Through this partnership with Qoo10, we will provide a new shopping experience that utilizes CJ E&M`s popular content in Southeast Asia, which is one of the hottest areas for Hallyu content in Korea. We are now in talks with Alibaba, Tencent and Weibo for business cooperation," said a CJ E&M spokesman.

CJ E&M is actively seeking collaboration with local platform companies in China by leveraging its stake in Studio Dragon, a drama production and distribution subsidiary.

By Kim Byung-ho and Minu Kim

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]