[CEONEWS=Reporter Lee Jae-hoon] In 2020, the regulatory storm unleashed by the Chinese government shook the structure of the global digital economy. At the center of it was Jack Ma. As the founder of Alibaba and leader of Ant Group, he was more than just an entrepreneur—he was the symbol of China’s digital economy. However, the sudden suspension of Ant Group’s IPO and the $2.8 billion fine imposed on Alibaba pushed Jack Ma into the shadows of a long silence. But in 2023, Jack Ma returned to the center of the world stage. His comeback wasn’t merely the return of a businessman; it was a signal foretelling the redesign of global digital hegemony. CEONEWS analyzes Jack Ma’s return not as a personal restoration, but as a strategic move to reshape the global order.
■ A master who designs the game with talent
Jack Ma’s return began in the classroom. After stepping down as chairman of Alibaba, he devoted himself to education. Starting in 2023, the Jack Ma Foundation established digital infrastructure in 7,300 schools across rural China and provided basic AI and big data education to more than 180,000 students. This wasn’t mere philanthropy. Jack Ma viewed education as the root of digital civilization. He established Alibaba Global Academies in Hangzhou, Singapore, Milan, and Dubai, and trained 2,400 young entrepreneurs and digital experts between 2024 and 2025. They became part of the Alibaba ecosystem and key nodes in the global digital network Jack Ma designed.
Jack Ma said:
“Technology disappears, but people remain. Those who have people will design the market.”
For him, education was about redesigning civilization beyond the market.
■ Beyond regulation, dominating the ecosystem
Fintech was Jack Ma’s forte. The suspension of Ant Group’s IPO and the fine were trials, but Jack Ma turned them into opportunities. As of 2025, Alipay boasts 1.07 billion annual users and $15 trillion in transaction volume—the world’s largest mobile financial ecosystem. Alipay has evolved from a mere payment app into a digital financial OS integrated with AI, big data, and cloud technology. He co-designed the digital yuan API with the government and revolutionized cross-border payments and remittances with major banks in Southeast Asia, the Middle East, and Africa.
“Finance is not about the flow of money but the flow of data. Those who have data dominate finance.”
Jack Ma’s words capture the essence of fintech precisely.
■ A digital empire that erases borders
Jack Ma went beyond borders. In Southeast Asia, Lazada pursued Shopee, securing a customer base of 270 million. Alipay established itself as a cross-border wallet in Singapore, Thailand, and Malaysia. In 20 European countries, its BNPL service expanded, while in Africa, it partnered with M-Pesa to reshape the public utility payment market. Alibaba Cloud reached 9% global market share, ranking third after AWS and Microsoft. It is evolving not just as a cloud business but as a data-based platform ecosystem.
■ What are we building?
Jack Ma’s return poses sharp questions to Korea.
① Are we designing a digital talent ecosystem?
Korea has innovative startups like Class101, Taling, and Riiid. However, the market size remains around 3 trillion won, only one-sixth of China’s. Jack Ma saw education as a digital talent supply chain. Is Korea ready to grow edtech as the root of a national digital ecosystem, rather than just an educational platform?
② Are we trapped in domestic-only innovation?
The Korean fintech market is worth about 10 trillion won, with around 20 million users. While Kakao Pay and Toss have succeeded domestically, they have failed in global expansion. Jack Ma turned regulation into opportunity, designed global standards, and built a complex ecosystem integrating AI, fintech, and cloud. Are we still stuck with a domestic-focused model constrained by regulation?
③ Are we ready to be global players?
78% of Korea’s cloud infrastructure depends on foreign companies. Alibaba Cloud grew as the foundation of data sovereignty and economic security. Are we preparing to secure data sovereignty and become players in the global data economy?
Jack Ma’s return says this:
“Innovation only flourishes beyond regulation. Those who design the market, not just consume it, are the winners.”
■ From winning in the river to designing the sea
The crocodile of the river, Jack Ma is heading for the sea again. He is no longer just rebuilding Alibaba, but transforming into the architect of digital civilization. By combining talent, data, and ecosystems, he is designing a new order. Korea now stands at a crossroads. Will we become players who design the market, or remain consumers sitting at someone else’s table? CEONEWS aims to suggest a new strategic direction for Korea’s future through Jack Ma’s return.
“Only those who design the game become winners.”
Jack Ma’s return once again throws this simple truth at the world.
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