Coupang-Listed Jeju Small Businesses See 171% Sales Increase in First Half

'Cheer Up Korea' Special Exhibition... Synergy Between Coupang and Jeju Island

[Asia Economy Reporter Kim Cheol-hyun] Coupang announced on the 3rd that sales of small local merchants in the Jeju region trading with Coupang grew by 171% year-on-year in the first half of this year. Although many small merchants faced crises due to the novel coronavirus infection (COVID-19) this year, online expansion through Coupang became an opportunity for small merchants, the company explained.

Coupang and Jeju Province have been collaborating since April to help small and medium-sized merchants in Jeju enter the online market by holding the "Cheer Up Korea" special exhibition. This exhibition guarantees sales by having Coupang pre-purchase products from Jeju businesses struggling due to economic downturn. Coupang and Jeju Province invested about 140 million won in this exhibition to support product marketing and advertising activities of small and medium-sized merchants in Jeju.

Coupang explained that through cooperation with Jeju Province, excellent products from Jeju such as house tangerines, Omegitteok, and blueberries have reached customers nationwide. Kim Jeong-yeol, CEO of Jeju Neoyoungnayoung Agricultural Cooperative Corporation, said, "School meals accounted for 70-80% of total sales, but with the suspension of school meals due to COVID-19, the future was bleak. Through Coupang, we were able to sell 100% of the eco-friendly agricultural products produced this year online." Yoon Hye-young, Vice President of Coupang Retail, said, "Coupang is helping sellers in the Jeju region enter online markets at minimal cost."

Meanwhile, Coupang has been building a nationwide logistics infrastructure through continuous investment. In February, it opened a Rocket Delivery Center in Jeju, enabling Jeju residents to enjoy fast and convenient Rocket Delivery services.

This content was produced with the assistance of AI translation services.