Coupang Continues Its Nationwide Job Creation and Regional Development Efforts with 300 Billion Won Investment in South Gyeongsang

  • Company to directly create over 4000 jobs in South Gyeongsang Province and establish largest logistics hub in the region
  • Investments aimed at improving the customer experience in South Gyeongsang and supporting small merchants and the regional economy
  • Second major investment since IPO; follows announcement 10 days ago to build largest logistics center in North Jeolla

Apr. 6
Seoul – Coupang today announced its plan to establish three new fulfillment
centers in South Gyeongsang Province. This follows closely behind its
announcement 10 days ago to build the largest logistics center in North Jeolla,
reaffirming the company’s commitment to revitalize local economies and create
new jobs using the proceeds from its initial public offering (IPO) last month.

Under the
MOU signed with South Gyeongsang, Changwon, Gimhae, and Busan-Jinhae Free
Economic Zone Authority, Coupang plans to invest over 300 billion won into two
new fulfillment centers in Changwon and one in Gimhae. This is expected to
directly create over 4,000 new jobs in South Gyeongsang and establish the
province’s largest logistics hub, spanning a total area of over 180,000 square

“We are
excited to welcome Coupang to our province,” said South Gyeongsang Governor
Kyung-soo Kim. “This investment will not only create many good jobs in South
Gyeongsang, but also significantly boost our economy by providing local
merchants, farmers, and fisherfolk a powerful new sales channel to promote and
sell their excellent products.”

The MOU signing ceremony was attended by
major officials, including South Gyeongsang Governor Kyung-soo Kim, Changwon
Mayor Sung-moo Huh, Gimhae Mayor Sung-gon Huh, Busan Jinhae Free Economic Zone
Commissioner Seung-chul Ha, and Coupang’s Representative Director of New
Business DJ Park. The parties committed to actively pursue the establishment of
Coupang fulfillment centers in South Gyeongsang and make efforts for mutual
growth and the revitalization of the regional economy. After the signing
ceremony, Coupang’s DJ Park gave a speech on “Tips and ideas for successful
start-ups” for around 30 entrepreneurs from the region.

The economies of cities like Gimhae and
Changwon have been particularly affected by the pandemic, which has led to
rising unemployment rates. To help address these issues, Coupang will
prioritize the hiring of local residents, in line with its existing employment
practices, and work to reduce gender and age employment gaps in the region. The
company is also working closely with local governments to prepare eco-friendly
measures, such as the adoption of electric vehicles.

in regional economies has always been a priority for Coupang,” said DJ Park.
“Our focus on local economies like Changwon and Gimhae gives us the opportunity
to have a huge impact, leading economic development throughout Korea while
elevating the customer experience. Coupang was one of the top job creators in
the nation last year, and we are committed to continuing these efforts during
these difficult times.”


press release contains express and implied forward-looking statements,
including statements regarding Coupang’s proposed investments, expected
benefits of such investments, as well as job creation. These forward-looking
statements are subject to a number of risks, uncertainties and assumptions,
including those described under the heading “Risk Factors” in the Final
Prospectus Coupang filed with the Securities and Exchange Commission pursuant
to Rule 424(b) under the Securities Act of 1933. In light of these risks,
uncertainties, and assumptions, the future events discussed in this press
release may not occur and actual results could differ materially and adversely
from those anticipated or implied in the forward-looking statements.  As a result, you should not rely on any
forwarding-looking statements as predictions of future events. These forward-looking
statements speak only as of the date of this press release and Coupang
undertakes no obligation to revise or update any forward-looking statements to
reflect events or circumstances after the date hereof.

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