Coupang’s investment plan, which was listed on the New York Stock Exchange (NYSE) on the 11th and secured about 5 trillion won in funding, is slowly being revealed. First of all, Coupang plans to use some of the funds collected through IPO to build a distribution center. It is analyzed with the intention of taking the lead in the shipping war between’e-Commerce’ companies that are getting fiercer.
On the 26th, Coupang announced that it has signed a memorandum of understanding (MOU) with Jeollabuk-do and Wanju-gun for the establishment of a new distribution center. The ceremony was attended by Dae-jun Park, CEO of Coupang New Business Division, Jeollabuk-do Governor Song Ha-jin, Park Seong-il, Wanju Gunman, and Assemblyman Ahn Ho-young.
Coupang plans to invest more than 100 billion won in the construction of a new logistics center. Coupang Wanju Logistics Center, which covers a site of 100,000 square meters, is expected to become the largest distribution center in Jeollabuk-do (excluding port warehouses and bonded warehouses). Coupang previously announced that it would spend 1 trillion won out of the 5 trillion won funding it secured through the IPO for the establishment of seven full-filment centers in Korea.
Coupang said that it has been looking for ways to evenly distribute and establish distribution facilities across the country, rather than distributing distribution facilities around the metropolitan area. To date, Coupang has established and operates more than 100 independent distribution centers in 30 cities nationwide. According to Coupang, 70% of the population of Korea lives within 10km of Coupang’s delivery center.
Park Dae-jun, CEO of Coupang New Business Division, said, “By attracting global funds through IPO, we can now greatly expand investment in all regions of Korea and joint growth with local communities.”
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