Coupang helps Korean SMEs to tap Taiwanese market in the past year

[Courtesy of Coupang]

Global e-commerce platform Coupang Inc. said that more than 12,000 South Korean small-to-medium-sized enterprises (SMEs) have entered the Taiwanese market via its services over the past year since its entry into the territory. This indicates Coupang has become a reliable platform for SMEs to sell their products overseas as the Korean market’s growth prospects are limited due to population decline and other challenges.

Coupang said on Wednesday that as many as 12,000 SMEs entered Taiwan via its services, including Rocket Jikgu and Rocket delivery, as of September 2023, after the platform debuted on the island last October. According to the data from Statistics Korea, the number of Korean consumer goods exporters amounted to 42,592, meaning that one in three exporters used Coupang services to enter the Taiwanese market.

Unlike its overseas delivery rivals, which require up to 3 weeks for delivery, Coupang offers free next-day delivery for purchases above NT$ 690 ($21.49).

The item categories offered by Coupang to Taiwanese locals have increased to include cosmetics, fashion, and kitchenware. Thanks to its soaring popularity in Taiwan, Coupang’s mobile app ranked top in the country’s app downloads in the second quarter of 2023.