Coupang Plans to Build Logistics Center in Cheongju with Over 400 Billion KRW Investment

Chungcheongbuk-do, Cheongju-si, and Chungbuk Free Economic Zone Authority Sign MOU... Expecting Creation of Over 2,000 Jobs

[Asia Economy Reporter Kim Cheol-hyun] Coupang announced its third investment and employment plan within two months after its March listing on the New York Stock Exchange. On the 4th, Coupang revealed that it signed a memorandum of understanding (MOU) with Chungcheongbuk-do, Cheongju City, and the Chungbuk Free Economic Zone Authority to invest a total of 400 billion KRW to build a logistics center covering 284,000㎡ in Cheongju Aeropolis 2 District. The construction of the logistics center is expected to create more than 2,000 direct jobs. Coupang plans to strengthen its logistics network in the Chungbuk region through the new Cheongju logistics center.

This MOU marks the third new logistics center plan following announcements for logistics centers in Jeollabuk-do and Gyeongsangnam-do. The total investment announced over the past two months amounts to 800 billion KRW, with direct employment plans reaching approximately 6,500 people. Having raised large-scale global funds on the New York Stock Exchange, Coupang is expanding nationwide investments and new jobs from Jeollabuk-do and Gyeongsangnam-do to Chungcheongbuk-do.

To date, Coupang has invested in over 100 of its own logistics and delivery centers across more than 30 cities nationwide. The construction of logistics centers in each region has led to the creation of thousands of jobs for local residents. Coupang has also implemented policies to actively employ women and older adults to address employment disparities commonly seen in areas where logistics centers are located.

Last year, Coupang directly created about 25,000 jobs and announced an investment plan close to 1 trillion KRW to build seven new regional logistics centers. Additionally, Coupang supports small business owners in logistics center areas by helping them join its marketplace, providing sales opportunities to Coupang’s millions of customers. The newly constructed Cheongju logistics center is also expected to be a boon for local small business owners.

Park Dae-joon, head of Coupang’s New Business Division, said, "The new Cheongju logistics center is one of the core elements of our nationwide logistics system construction plan," adding, "We will ensure that Coupang’s continuous investment and job creation permeate community development evenly from Jeollabuk-do and Gyeongsangnam-do to Chungcheongbuk-do."

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