DAEGU < invest Korea

According to Yonhap News,

(SEOUL=Yonhap News) South Korea's major e-commerce company Coupang will build an eco-friendly logistics center equipped with advanced technology in Daegu.

Daegu Metropolitan City announced that it enters into an investment agreement with Forward Ventures, operator of Coupang e-commerce website, to construct a high-tech and environmentally friendly logistics center.

Following the agreement, the e-commerce company will invest about KRW 100 billion to build the facility on the land of 78,825 square meters in the Daegu National Industrial Complex. Construction is scheduled to start in November and finish by March next year.

The city expects the distribution center will create 1,500 new jobs, which is the largest in employment number ever generated by a company moving into a new region.

Daegu will work with Coupang to nurture talents, conduct logistics R&D, and establish foundation for integrated logistics system based on big data.

The city aims to change its industrial portfolio by applying cutting-edge logistics technology on the regional economy largely centered on manufacturing and service industries.

Along with the establishment of the logistics facility, Coupang will offer eco-friendly delivery services in the region and participate in Daegu's micro grid project.

Coupang is a rapidly growing e-commerce company based in Seoul. It has exhibited double-digit growth rates every year since its foundation in 2010.

It recorded sales exceeding KRW 1.13 trillion for the first time as an e-commerce site in Korea.

haru@yna.co.kr

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