Coupang Signs Agreement for 'Seoul City Traditional Market Online Comprehensive Support'

Seoul Credit Guarantee Foundation and Traditional Markets Sign Business Agreement

[Asia Economy Reporter Kim Cheol-hyun] Coupang announced on the 10th that it has signed a business agreement with the Seoul Credit Guarantee Foundation to strengthen the online competitiveness of Seoul's traditional markets through the 'Seoul Traditional Market Online Comprehensive Support' project.

Through this business agreement, Coupang Eats will provide promotional benefits to 25 markets and a total of over 500 stores from September to November. In addition to the traditional market commission support previously provided by Coupang Eats, customers will also receive a 4,000 KRW coupon. Furthermore, a traditional market banner will be placed on the Coupang Eats app screen to enable customers to easily and quickly purchase products from neighborhood traditional markets.

This Seoul Traditional Market Online Comprehensive Support is a 'comprehensive support package-type' project that combines various existing supports for traditional markets. Coupang Eats has been selected as the food delivery platform for this project.

Since last year, Coupang Eats has collaborated with the Seoul Metropolitan Government to deliver food from traditional market restaurants, providing education and marketing support to traditional market merchants who are unfamiliar with online delivery, thereby offering online sales opportunities. Continuous consulting is provided to help traditional market merchants enhance their self-sustainability online.

In fact, traditional market merchants who had no prior experience using food delivery apps or who only sold wholesale and retail have rapidly grown through Coupang Eats. For example, the owner of a side dish specialty store in their mid-60s was initially afraid to use the delivery platform, but with exclusive consulting for the traditional market, the number of orders increased by 400 within two months. A fruit and vegetable wholesale and retail specialty store also saw sales increase by 30-40% through the traditional market project, becoming a sales model for other new merchants who are new to delivery.

A Coupang official stated, "We will continue to strive to introduce various support measures unique to Coupang for small business owners."

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