CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

Korea’s largest online retailer, Coupang, is set to establish a new distribution center in the city of Chungju in North Chungcheong Province. Coupang signed an MOU with the city and the provincial authorities on May 4 over KRW 400 billion worth of investments into a new warehouse on a 284,000㎡ site in Cheongju Aeropolis2, saying “The new warehouse is anticipated to add more than 2,000 new jobs.”

The retail giant has started to unveil its plan to build up its logistics hubs across the nation since it has made its first debut on the New York Stock Exchange through an IPO in March this year.

Issuing an initial public offering in New York, the largest e-commerce in Korea said it’ll invest as much as USD 8,70 million in fulfillment houses (type of in-house packaging warehouses) seven districts nationwide, where an all encompassing one-stop service from storing inventory, managing orders directly to customers or retailers to packaging, shipping and event delivery is available.

Coupang has disclosed the same investment plan in Wanju, South Jeolla Province on Marh 26 and the city of Changwon and Gimhae on April 6. The investment scale is reported to be KRW 100 billion and KRW 300 billion separately. In celebration of the MOU signing ceremony, the retailer said “Cheongju fulfillment house would be part of nationwide logistics hubs across the country. “

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Source: Yonhap News (May 4, 2021)