Firms cash in on e-commerce with S. Korea

Businessman Lin Xuguang is predicting his company sales will double this year as a result of the free trade agreement between China and South Korea.

Lin, 40, manages an agricultural products company - Weihai JiuR Foreign Trade Co Ltd - in Weihai, Shandong province. He opened the business in 2007 and now he is rapidly expanding into South Korea, selling food products such as rice biscuits and soft drinks over the Internet.

"The maximum daily sales of my (online) store on the Tmall platform, which is part of Alibaba Group Holding Ltd, reached 4 million yuan ($644,145) after Weihai opened up for cross-border e-commerce," Lin said. "Before, I could only make 1 million yuan a month."