Coupang to Establish Advanced Logistics Center in Jecheon City with 100 Billion KRW Investment

Scheduled for Completion in 2023 at Jecheon-si 3rd Industrial Complex... "Creating 500 Local Jobs"

Coupang announced on the 5th that it signed a Memorandum of Understanding (MOU) for investment attraction to establish a large-scale logistics center with Chungcheongbuk-do and Jecheon City at Jecheon City Hall. Kim Myung-kyu, Coupang Executive Vice President of Logistics Policy (center), Seong Il-hong, Deputy Governor of Chungcheongbuk-do for Economic Affairs (left), and Lee Sang-cheon, Mayor of Jecheon, along with other key officials, are taking a commemorative photo after the signing ceremony.

[Asia Economy Reporter Kim Cheol-hyun] Coupang announced on the 5th that it has signed a Memorandum of Understanding (MOU) with Chungcheongbuk-do Province and Jecheon City to attract investment for the establishment of a large-scale logistics center. At the signing ceremony, key officials including Seong Il-hong, Deputy Governor for Economic Affairs of Chungcheongbuk-do, Lee Sang-cheon, Mayor of Jecheon, and Kim Myung-gyu, Executive Vice President of Coupang Logistics Policy, attended and signed the MOU for the establishment of an advanced logistics center, promising to cooperate for regional economic revitalization and job creation along with the construction of the advanced logistics center.

The newly added "Coupang Jecheon Advanced Logistics Center" will be established within the 3rd Industrial Complex in Jecheon City, covering an area of 100,000 m², and is scheduled to be completed in 2023. Coupang plans to invest 100 billion KRW to build a state-of-the-art logistics center, introducing product management and worker route optimization systems utilizing logistics software and artificial intelligence (AI) developed in-house, eco-friendly packaging facilities, and advanced logistics equipment. The Jecheon Advanced Logistics Center, together with the "Coupang Geumwang Logistics Center" located in Eumseong-gun, Chungcheongbuk-do, will cover the entire Chungcheong region and establish itself as a hub for logistics and distribution.

With the establishment of the large-scale advanced logistics center, it is expected to greatly contribute to the development of the local economy, which has been contracted due to the COVID-19 pandemic. More than 500 new jobs will be created through prioritizing employment of local residents, and it is expected to provide greater business opportunities to mini-enterprises (companies with annual sales under 3 billion KRW) in the Chungcheong region. In particular, Coupang plans to contribute to resolving job blind spots by prioritizing the hiring of local residents, focusing on women and middle-aged and older adults without restrictions on gender or age.

Kim Myung-gyu, Executive Vice President of Coupang Logistics Policy, said, "We will strive to be a model of coexistence and mutual growth with the local community by creating quality jobs," adding, "Going forward, Coupang will continue to invest to provide customers with the best shopping experience by utilizing a logistics network connecting the entire country and to make customers' lives easier and more convenient."