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.
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