Beomseok Kim, Coupang Chairman: "Taiwan Showing Remarkable Growth... Expanding Investment in Rocket Delivery Logistics"

Revenue Reaches 12.8455 Trillion Won, Operating Profit at 224.5 Billion Won
Developing Offerings Segment Revenue Jumps 31% Year-on-Year
"Taiwan Resembles Early Days of Korean Business"
"Will Continue Building Proprietary Last-Mile Logistics Network in Taiwan"

Beomseok Kim, Chairman and Founder of Coupang Inc., stated on November 5, "The level of customer inflow in Taiwan is similar to what we saw when building our retail business in Korea," adding, "This further solidifies our confidence in the long-term potential of the Taiwanese market."

During Coupang's third-quarter earnings conference call that day, Kim commented on Rocket Delivery in Taiwan, saying, "We achieved remarkable sales growth again this quarter, and as a result of focusing on building the highest level of customer experience, we have elicited meaningful responses from consumers, leading to high inflow and retention rates."

Kim Beomseok, Chairman and Founder of Coupang Inc. Photo by Coupang

Coupang Inc., the parent company of Coupang, announced that its third-quarter revenue reached 12.8455 trillion won (9.267 billion dollars, based on an average quarterly exchange rate of 1,386.16 won per dollar), representing a 20% increase from the same period last year. Operating profit was 224.5 billion won (162 million dollars), up 51.5% from 148.1 billion won (109 million dollars) in the third quarter of last year.

Kim explained that this quarter's results were the outcome of investments made to enhance the customer experience. He said, "The structure in which customer spending steadily expands over time is the result of persistently investing over many years to create a world-class customer experience," and added, "Korea remains a robust market with significant growth potential, once again proving that there are many growth opportunities yet to be explored."

He predicted that expanding the selection of products in both Rocket Delivery and Marketplace would be a key opportunity going forward. Kim stated, "While the number of new brands joining Rocket Delivery is increasing rapidly, there is still significant room for expansion. Since many products in the Rocket Delivery catalog are not supplied through direct contracts with brands, we will further strengthen brand partnerships to provide customers with more diverse choices, better value, and greater convenience."

He assessed that Rocket Growth (FLC) is at the stage where its potential is beginning to be fully realized. He said, "We are making large-scale investments in Rocket Growth to provide merchants with convenience and cost savings, which in turn offers customers a wider range of products, enhanced convenience, and cost reductions." He continued, "This has enabled expansion into new categories such as furniture, fashion, and sporting goods, and the range of products offered to customers is becoming more diverse and segmented."

Kim explained that the company is rapidly expanding the adoption of automation technologies to improve the customer experience. He said, "We are quickly expanding the introduction of automation technologies across our logistics and fulfillment network. Although it is still in the early stages compared to its potential, thanks to our culture of process and technological innovation, we are seeing improvements in service quality and operational efficiency. We expect automation to become a powerful growth driver in both of these areas."

Chairman Kim: "Progress in Building Proprietary Last-Mile Logistics Network in Taiwan... Will Achieve Korean-Level Speed and Reliability"

Kim also expressed high expectations for the rapidly growing Rocket Delivery service in Taiwan this year. The revenue for the Developing Offerings segment, which includes the performance of the Taiwan, Farfetch, Coupang Play, and Coupang Eats businesses, was 1.7839 trillion won (1.287 billion dollars), marking 31% growth compared to the same period last year. Separate performance figures for the Taiwan business were not disclosed.

Kim identified two factors that will drive continued growth in Taiwan: the rapidly expanding product selection and the establishment of a proprietary last-mile logistics network. He said, "Although still in the early stages, we have made significant progress in expanding the Rocket Delivery (1P) product selection. We recently launched the 3P Marketplace business, which will greatly expand our product assortment and provide consumers with attractive value propositions."

Regarding the development of a proprietary last-mile logistics network, he said, "Although still in its early stages, there was impressive progress last quarter. The proportion of deliveries made through our own logistics network has increased significantly, laying the foundation for achieving the level of speed and reliability that customers expect from Coupang in Korea." He added, "We will continue to focus on areas where we are confident in delivering lasting customer satisfaction and attractive long-term cash flows, while continuing to experiment and learn."

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