Coupang to Invest 300 Billion KRW to Establish 3 Logistics Centers in Changwon and Gimhae... 4,000 Jobs Created

Signing of MOU for Establishing Logistics Center in Gyeongnam Region
"Priority Hiring of Residents... Adoption of Eco-Friendly System"

[Asia Economy Reporter Kim Bo-kyung] Coupang will establish three new logistics centers in Gyeongsangnam-do. This additional investment comes just about 10 days after announcing the construction of a logistics center in Jeonbuk.

On the 6th, Coupang announced through an investment agreement (MOU) with Gyeongsangnam-do, Changwon City, Gimhae City, and Busanjin-Hae Free Economic Zone that it will invest over 300 billion KRW in two logistics centers in Changwon and one in Gimhae. Through this, it plans to create about 4,000 direct jobs in the Gyeongnam region and build the largest logistics center in Gyeongnam with a total area exceeding 180,000㎡.

Kim Kyung-soo, Governor of Gyeongnam, said, "We are pleased to welcome Coupang," adding, "This investment is expected to greatly help revitalize the local economy by not only creating jobs but also providing sales channels to local small business owners and farmers and fishermen."

Key officials attending the agreement ceremony included Governor Kim, Heo Seong-mu, Mayor of Changwon, Heo Seong-gon, Mayor of Gimhae, Ha Seung-cheol, Head of Busanjin-Hae Free Economic Zone Authority, and Park Dae-jun, CEO of Coupang's New Business Division. After the ceremony, CEO Park also gave a lecture on startup success to about 30 entrepreneurs from Gyeongnam.

Coupang stated that to address economic downturns and unemployment issues in provincial cities, it will prioritize hiring local residents and strive to reduce employment gaps by gender and age within the region. Additionally, it plans to actively cooperate with local governments to introduce various eco-friendly systems such as electric vehicles.

CEO Park said, "By focusing on revitalizing the local economy, we expect Coupang to lead Korea's economic development and positively impact by enhancing customer experience to the next level," adding, "Coupang was one of the companies that created the most jobs domestically last year. Although these are difficult times, we will continue these efforts going forward."