Coupang and Government United to Revitalize Traditional Markets... "Full Waiver of Coupang Eats Fees"

Opening Ceremony of the '2022 Jeon-guk Wusu Sijang Expo' Signing Win-Win Agreement
Supporting Online Market Expansion and Digital Transformation for Traditional Markets

Scene from the win-win cooperation agreement ceremony. (From left) Jeong Dongsik, President of the National Merchants Federation; Park Daejun, CEO of Coupang; Lee Young, Minister of SMEs and Startups; Oh Younggyo, Chairman of the Commission for Shared Growth.

[Asia Economy Reporter Kim Bo-kyung] Coupang has decided to waive the entire brokerage fee on sales generated by traditional market merchants through its delivery service 'Coupang Eats'.

The Ministry of SMEs and Startups, the Commission for Shared Growth, Coupang, and the National Merchants Association signed a win-win cooperation agreement at the opening ceremony of the '2022 National Excellent Market Expo' held at Yeongju Citizens' Stadium in Gyeongbuk on the 30th, uniting their efforts to pioneer online sales channels for traditional markets.

As non-face-to-face transactions expand, requiring a parallel approach between traditional market sales methods and digital methods, Coupang has committed to sharing the digital know-how of a large online platform company to revitalize traditional markets and the local economy together.

The Commission for Shared Growth announced a regional coexistence-type win-win cooperation stage model on the 5th, and this agreement is part of that initiative, fundamentally seeking online sales channels for traditional markets.

The main points of the agreement with Coupang are as follows. First, the parties to the agreement will help traditional markets enter online channels by implementing various win-win cooperation programs through a public-private win-win council.

Coupang will assist traditional market merchants entering Coupang Eats in their mobile and online expansion, and the National Merchants Association will strive for the digital transformation of traditional market merchants.

Additionally, when traditional market merchants join Coupang Eats, mobile sales education will be provided, and support will be given for creating entry content containing Coupang’s know-how. Coupang will waive the entire brokerage fee on sales generated by traditional market merchants through Coupang Eats to contribute to the revitalization of traditional markets.

Lee Young, Minister of SMEs and Startups, stated, "We will continue to discover private collaboration models for the digital transformation of traditional markets." Oh Young-gyo, Chairman of the Commission for Shared Growth, said, "Today's agreement is significant as it unites the efforts of a large online platform company and traditional markets to create happy neighborhood commercial districts."

Park Dae-jun, Head of Coupang’s New Business Division, said, "Coupang will actively create opportunities for mutual growth by playing a reliable partner role for local small business owners."

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