DAEGU < invest Korea

According to Pulse by Maeil Business News Korea,

South Korean e-commerce giant Coupang on Wednesday commenced the operation of its newest fulfillment center in Daegu, which is Asia’s biggest fulfillment center, in full swing in hopes of creating about 10,000 new jobs in the city and surrounding areas.

Coupang’s Daegu fulfillment center is one of the hallmarks that represent the company’s investments in Korea. Coupang invested about 320 billion won ($242.2 million) to build the center equipped with the latest technologies, including artificial intelligence and logistics robots, on a site that spans across 330,000 square meters, equivalent to some 46 soccer fields.

Coupang said Daegu fulfillment center will help revitalize the local economy with the creation of about 10,000 new jobs including 2,500 jobs directly hired by the fulfillment center.

At an event held on Wednesday under the title of “Creating WOW: Showcasing Coupang’s Investments & Innovations Across Korea in 2022,” the company touted its massive 6.2 trillion won ($4.69 billion) investments in Korea over the past decade that lead to stellar business achievements, including more than 60,000 direct hires in the country over the last two years and the establishment of logistics centers and facilities in 30 locations under a win-win business model for customers, employees and small businesses.

The event was attended by U.S. Ambassador Philip Goldberg and Korean government officials. The company is listed on New York Stock Exchange.

According to government data, the foreign direct investment Coupang secured came to $1.22 billion, which accounts for 48 percent of the total foreign direct investment attracted by South Korea last year.


By Chung Seul-gi and Minu Kim

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (Dec. 8, 2022)