Coupang Creates Over 2,000 Jobs in Jeollabuk-do Using IPO Raised Funds

Plan to Invest Over 100 Billion KRW in Building the Largest Logistics Center in Jeollabuk-do

Park Dae-jun, Head of New Business Division at Coupang (center), Song Ha-jin, Governor of Jeollabuk-do (right), and Park Seong-il, Mayor of Wanju County, are taking a commemorative photo after the agreement ceremony.

[Asia Economy Reporter Kim Cheol-hyun] Coupang announced on the 26th that it has signed a Memorandum of Understanding (MOU) for investment attraction to establish a new logistics center with Jeollabuk-do and Wanju-gun. This is the first domestic investment made just two weeks after Coupang was listed on the New York Stock Exchange.

At the signing ceremony, key officials including Song Ha-jin, Governor of Jeollabuk-do, Park Seong-il, Mayor of Wanju-gun, Ahn Ho-young, Member of the National Assembly, and Park Dae-jun, Head of Coupang's New Business Division, attended and signed the MOU for the establishment of the 'Coupang Wanju Logistics Center,' pledging to work together to revitalize the local economy and create jobs.

According to the MOU signed with Jeollabuk-do and Wanju-gun, Coupang plans to invest more than 100 billion KRW to establish a new logistics center in Wanju-gun. The Coupang Wanju Logistics Center, with a site area approaching 100,000 square meters, is expected to be the largest logistics center in Jeollabuk-do. It is anticipated to create about 2,000 new jobs. Following existing employment practices, Coupang will prioritize hiring local residents and is expected to contribute to eliminating employment disparities based on gender and age.

Unlike many domestic logistics companies that concentrate logistics facilities in the metropolitan area, Coupang has been seeking to establish logistics infrastructure more evenly across the country. To date, Coupang has established about 100 independent logistics centers in 30 cities nationwide, contributing to regional economic growth and job creation across the country. As a result of large-scale investment in logistics infrastructure, currently 70% of South Korea's population lives within 10 km of a Coupang delivery center.

Park Dae-jun, Head of Coupang's New Business Division, said, "Investing in the local economy and creating new jobs nationwide, as in the case of Wanju-gun, has always been a top priority for Coupang. With global capital raised through Coupang's IPO, investment and joint growth with local communities can now be greatly expanded in all regions of the country."

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