Taipei, April 27 (CNA) One of the biggest e-commerce retailers in Asia, Coupang, on Wednesday launched a service for Taiwanese small and medium-sized enterprises (SMEs), enabling them to sell "made-in-Taiwan" products in South Korea, according to the company.
With the launch of Coupang Global Marketplace, the e-commerce retailer offers a service whereby sellers can directly access its active customer base of over 18 million. The business model is touted as enabling sellers to increase the range of selection available on Coupang's app in South Korea.
The launch "marks the first time Coupang has proactively engaged with Taiwanese SMEs, providing direct access to 18 million active customers on South Korea's most used e-commerce mobile application," the company said in a statement released Wednesday.
Coupang said it expects the service to benefit thousands of Taiwanese SMEs that have potential in overseas markets.
The Global Marketplace was officially introduced to Taiwanese sellers at the 2023 Taiwan Cross-Border E-commerce Expo, held in Taipei from April 26-27 under the auspices of the Importers and Exporters Association of Taipei, Bureau of Foreign Trade, Ministry of Digital Affairs (MODA), and Taipei City government.
In his opening remarks at the expo, Leu Jang-hwa (呂正華), director general of the Administration for Digital Industries under MODA, emphasized the importance of developing cross-border e-commerce services as the department is devoted to promoting digital empowerment.
"A single physical sales channel can no longer meet supply and demand between buying and selling, and cross-border e-commerce platforms are the best solution to break through the time difference and geographical limitations," he said.
Noting that finding suitable overseas partners and the latest market trends are challenges for business sectors, Leu welcomed international e-commerce companies providing trading channels for domestic sellers.
Meanwhile, Gerald Hoe, head of Coupang Global Marketplace, said Taiwanese cosmetic brands such as My Beauty Diary, Dr. Wu, and Neogence, and traditional snacks like pineapple cakes, nougat crackers and beef instant noodles are among the most popular online purchases for South Koreans.
"We are very pleased to announce Coupang Global Marketplace is joining hands with Taiwanese sellers to bring many more Taiwan products to South Korea," he said.
Coupang, now headquartered in the United States, runs operations and support services in markets that include South Korea, Taiwan, Singapore and China. It first launched its service in Taipei in 2021 and expanded nationwide last year with Rocket Overseas and Rocket Delivery services providing packages and online purchases.
