Coupang Launches 2nd "Cheer Up Korea" Campaign to Support Daegu Local Businesses

Up to 64% Discount on Nearly 300 Daegu Local Small Business Products Until Year-End

[Asia Economy Reporter Kim Cheol-hyun] Coupang is collaborating with Daegu City to support local businesses in Daegu, which are struggling due to the recent economic downturn. Coupang announced on the 22nd that it will continue the 'Cheer Up Korea' 2nd promotional event until the end of the year.

'Cheer Up Korea' is a promotional event where Coupang cooperates with local governments to promote regional coexistence. Coupang directly purchases products from local businesses and supports marketing, including main advertising spaces, to help increase sales.

In the first 'Cheer Up Korea' promotional event held in April, sales of Daegu-based companies increased by an average of 112% compared to the same period last year. Building on this success, the 2nd promotional event running until the end of the year offers a wider variety of products and greater discount benefits than the first event. Popular products from Daegu companies can be purchased at discounts of up to 64%. Immediate discount benefits are provided with support from Daegu City.

Customers can quickly receive products from Daegu through Rocket Delivery services such as early morning and same-day delivery. Coupang's logistics network is also analyzed to provide greater business opportunities nationwide for local small business owners. For example, 'Munster.com,' which sells furniture such as chairs and desks, participated in the first promotional event and recorded a sales growth of 6695% compared to the same period last year, the highest growth rate among participating Daegu companies.

Yoon Hye-young, Vice President of Retail at Coupang, said, "Many Daegu companies saw significant sales growth through the first 'Cheer Up Korea' promotional event," adding, "We will ensure that the 2nd promotional event directly benefits Daegu-based companies as well."