One of the biggest e-commerce retailers in Asia, Coupang Inc, on Wednesday launched a service for Taiwanese small and medium-sized enterprises (SMEs), enabling them to sell “made in Taiwan” products in South Korea.
With the launch of the Coupang Global Marketplace, the e-retailer offers a service whereby sellers can directly access its customer base of more than 18 million people, Coupang said.
The business model would enable sellers to increase the range of selection available on Coupang’s app in South Korea, it said.
Photo: Reuters
Coupang said it expects the service to benefit thousands of Taiwanese SMEs that have potential in overseas markets.
The online marketplace was officially introduced to Taiwanese sellers at the Taiwan Cross-Border E-commerce Expo in Taipei on Wednesday and yesterday.
The expo was organized by the Importers and Exporters Association of Taipei, the Bureau of Foreign Trade, the Ministry of Digital Affairs and the Taipei City Government.
In his opening remarks at the expo, Administration for Digital Industries Director-General Leu Jang-hwa (呂正華) said that it was important that Taiwan develops cross-border e-commerce services, as the ministry 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,” Leu said.
Finding suitable overseas partners and the latest market trends are challenges for business sectors, so international e-commerce companies that provide trade channels for domestic sellers are welcome, he said.
Coupang Global Marketplace head Gerald Hoe said that Taiwanese cosmetic brands such as My Beauty Diary (我的美麗日記), Dr Wu (達爾膚生醫) and Neogence (霓淨思), and traditional snacks such as pineapple cakes, nougat crackers and beef instant noodles are among the most popular online purchases among 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,” Hoe said.
Coupang, which is headquartered in the US, runs operations and support services in Taiwan, South Korea, Singapore and China. It first launched services in Taipei in 2021 and expanded nationwide last year.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
Hypermarket chain Carrefour Taiwan and upscale supermarket chain Mia C’bon on Saturday announced the suspension of their partnership with Jkopay Co (街口支付), one of Taiwan’s largest digital payment providers, amid a lawsuit involving its parent company. Carrefour and Mia C’bon said they would notify customers once Jkopay services are reinstated. The two retailers joined an array of other firms in suspending their partnerships with Jkopay. On Friday night, popular beverage chain TP Tea (茶湯會) also suspended its use of the platform, urging customers to opt for alternative payment methods. Another drinks brand, Guiji (龜記), on Friday said that it is up to individual
STABLE RESULTS: Despite June’s lower consolidated revenue, second-quarter sales still reached a record high, driven by demand for chips for AI applications Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported consolidated sales of NT$263.71 billion (US$9.02 billion) for last month, its second-lowest monthly result this year. The world’s largest contract chipmaker said in a statement that its revenue last month only fared better than the NT$260.01 billion posted in February. Last month’s figure rose 26.9 percent from a year earlier, but slumped 17.7 percent from May, the company said. However, second-quarter revenue reached NT$933.8 billion, a record high for a single quarter, company data showed. The figure represented growth of 11.26 percent from the first quarter and 38.6 percent from a year earlier. Previously, TSMC said that
RSS