Coupang Surpasses 1 Trillion KRW in New Domestic Logistics Center Investments This Year

Investment in logistics centers equivalent to 100 soccer fields over three months from March... Creating about 9,500 direct employment jobs
MOU signed with Busan City on the 17th for logistics center establishment... 220 billion KRW investment, expecting 3,000 job creation

On the 17th, Coupang and Busan Metropolitan City signed an investment agreement to establish the Busan Logistics Center at Busan City Hall. (From left in the photo) Park Dae-jun, Head of Coupang's New Business Division, Park Hyung-joon, Mayor of Busan Metropolitan City, and Ha Seung-cheol, Commissioner of the Busan-Jinhae Free Economic Zone Authority, are taking a commemorative photo after signing the agreement. Photo by XXX

[Asia Economy Reporter Kim Cheol-hyun] Coupang's cumulative investment announced for new domestic logistics centers this year has exceeded 1 trillion KRW. The employment creation effect is expected to be about 9,500 direct hires, and the total area of the new logistics centers will be equivalent to 100 soccer fields.

Coupang announced on the 17th that it signed a Memorandum of Understanding (MOU) with Busan Metropolitan City and Busan-Jinhae Free Economic Zone Authority to build a logistics center of 170,000㎡ in size in Gangseo-gu, Busan, with a total investment of 220 billion KRW.

This investment agreement for the Busan logistics center is Coupang's fourth domestic investment plan announced this year, following Jeollabuk-do in March, Gyeongsangnam-do in April, and Chungcheongbuk-do in May. The cumulative investment amount announced so far exceeds 1.02 trillion KRW, and the job creation effect through direct employment reaches about 9,500 people. The total floor area of the logistics center buildings exceeds 700,000㎡, equivalent to 100 soccer fields each measuring 7,000㎡.

Once the Busan logistics center is established, it is expected to create more than 3,000 direct jobs. Coupang created the most new jobs in the domestic private sector last year (based on the number of National Pension subscribers) and is also making efforts to reduce employment gaps by age and gender.

Coupang plans to build the Busan logistics center, scheduled for completion in 2024, as an advanced logistics system incorporating innovative technologies that combine IT with the distribution industry, such as product management and delivery route optimization. Based on its geographical advantage favorable for import and export, Coupang's Busan logistics center is expected to become an important hub for building a global network and overseas expansion in the future. It is also expected to serve as a foothold for small business owners to develop overseas sales channels.

Park Dae-jun, head of Coupang's New Business Division, said, "The logistics center to be built in Busan has an excellent locational advantage adjacent to the new port and will become Coupang's forward base for overseas expansion. Through large-scale investment, it will create quality jobs in the Busan community, expand support for small business owners, and greatly contribute to the development of the local economy."

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