Coupang "70% of Sales from Local Small Businesses... Will Continue Support and Investment"

[Asia Economy Reporter Kim Bo-kyung] Coupang announced on the 7th that about 70% of sales from small and medium-sized merchants (SMMs) operating on its platform in the second quarter of this year occurred outside of Seoul. The company evaluated that active support and investment in small merchants are returning as growth for regional SMMs.

According to Coupang, among the SMMs trading with Coupang in the second quarter of this year, those based in Seoul grew by 129.6% compared to the same period last year. In some regions, the growth rate was even steeper than in Seoul. In the second quarter, SMMs based in Ulsan grew by 157.6%, those in Gyeongnam by 145.7%, and those in Jeju-do by 130.1%, surpassing Seoul's growth rate.

Coupang stated that the foundation for this growth was a fair sales system where all can compete equitably, including low entry barriers for regional SMMs and opportunities given without discrimination based on brand awareness or company size, along with active support measures. Coupang is also helping small merchants and agricultural, fishery, and livestock producers pioneer digital sales channels in collaboration with the government and local governments. To this end, it has established a support fund worth 400 billion KRW this year. This investment is part of a commitment to use funds raised through its U.S. stock market listing in March to support the Korean economy.

Park Dae-jun, head of Coupang's New Business Division, said, "Customers can easily and quickly access high-quality excellent products from small merchants and agricultural, fishery, and livestock producers nationwide through Coupang, and small and medium merchants are gaining more sales opportunities." He added, "We will continue regional investments and win-win activities so that regional small and medium merchants can continue to challenge and grow."

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