April 29, 2024

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(Yonhap)

Coupang, South Korea's leading e-commerce company, said Wednesday it will invest 3 trillion won ($2.23 billion) for the next three years to expand its renowned "rocket delivery" nationwide in a bid to solidify its dominance in the competitive market.

The plan includes the establishment of over eight fulfillment centers across the nation, serving as the logistics hub for its super-fast delivery service.

Additionally, the company will harness advanced automation technology to enhance efficiency and reliability in its operations, with upgrades to its existing delivery network.

With this investment, Coupang anticipates extending the coverage of its signature rocket delivery service to 88 percent of the country by 2026 and achieving nationwide coverage by 2027.

The move comes amid escalating competition from Chinese e-commerce giants, notably Alibaba Group's Aliexpress, which has been aggressively expanding its presence in the South Korean market.

Alibaba recently announced a commitment of 1.5 trillion won to the South Korean market over the next three years, underscoring the intensity of competition in the region. (Yonhap)