Korean telecom operator SK Telecom will invest CNY500 million in China to develop its B2C e-commerce website Qianxun.com.

At present, the first CNY300 million investment tranche has reportedly been transferred to fund the website's operations.

With the aim of creating the largest online brand apparel store in China, Qianxun.com mainly sells clothing, footwear and headwear products of famous European brands and popular Korean brands. The website has already been launched and can currently support the normal trading of products, but some pages still need to be improved. According to the original plan, it will be officially launched on March 15, 2009.

Guo Hongchi, former vice president for the B2C site management software developer ShopEx, will be CEO of Qianxun.com and the initial organizational structure of the website has been completed.

If all goes well, this online B2C business might become SK Telecom's major focus in China, instead of its social networking website Cyworld.