Coupang 'Win-Win Promotion' Participating Small Business Sales Up 183%

Collaborating with Local Governments Nationwide to Support Small Businesses in Expanding Sales Channels, Promotion, and Marketing

[Asia Economy Reporter Kim Cheol-hyun] Coupang announced on the 15th that the sales of local small and medium-sized enterprises (SMEs) participating in the online win-win promotion with local governments grew by 183% over the past year. Following last year, Coupang is collaborating with local governments nationwide this year as well to support small business owners and agricultural and livestock producers struggling due to COVID-19 by implementing various regional SME support projects. Through ongoing initiatives such as the "Cheer Up! Republic of Korea" campaign, the "Small Business Product Exclusive Hall," and the "Regional Agricultural and Marine Products Specialty Hall," Coupang continuously promotes and boosts sales of small business products. To this end, Coupang has raised support funds amounting to 400 billion KRW this year alone to assist small businesses nationwide.

According to Coupang, the sales of SMEs located in Seoul Special City, Gyeongsangbuk-do, and Jeollabuk-do participating in Coupang's local government support projects from January to August this year increased by 183% compared to the same period last year. In particular, Coupang has established itself as a major sales channel and promotional and marketing tool for local SMEs. Analyzing the results of the "Online Win-Win Promotion" conducted by local governments in Seoul Special City, Gyeongsangbuk-do, Gyeongsangnam-do, Chungcheongnam-do, and Gwangju Metropolitan City to support small businesses last year, it is estimated that about 40% of total online sales occurred on Coupang.

For example, The Class, an automotive accessory company based in Gyeongsangnam-do that had experienced limitations in customer acquisition mainly through its own mall sales, saw its sales surge by 653% in the first half of this year compared to the same period last year due to joining Coupang Rocket Delivery and participating in the local government win-win promotion. Park Dae-jun, CEO of Coupang's New Business Division, said, "Our efforts to grow together with local SMEs will expand further in the future," adding, "We will continuously strive to make Coupang a reliable support for small business owners through various local government support projects."

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