Gangwon Province Companies Open Path to Enter 40 Trillion Won Southeast Asia E-commerce Market

Business Agreement with Southeast Asia's Largest E-commerce Platform 'Shopee'

[Asia Economy Reporter La Young-cheol] Companies in the Gangwon region are opening a path to enter the Southeast Asian e-commerce market worth 40 trillion won.

According to Gangwon Province on the 20th, the province signed a business agreement on the 19th with Southeast Asia's largest e-commerce platform, Shopee Korea, for "Overseas E-commerce Expansion and Export Promotion of Gangwon Province Companies."

Shopee Korea is the largest e-commerce platform in Southeast Asia and Taiwan, operating in seven countries including Singapore, the Philippines, Indonesia, Malaysia, Thailand, Vietnam, and Taiwan.

Shopee Korea will continuously share and provide local market information, Shopee store entry and utilization methods, item- and market-specific trends, and entry strategies.

Additionally, various projects such as startup incubation and consulting for listed companies, and promotional sales linked to mega campaigns will be promoted.

This agreement is significant as it partners with a mobile-based Southeast Asia-specialized platform aiming to enter the massive market of 650 million people, which is also the center of the Korean Wave (Hallyu) boom.

The province judged that the expansion of domestic and international e-commerce markets will establish itself as a long-term trend rather than a temporary phenomenon caused by the pandemic.

Since Shopee supports comprehensive solutions, it is also expected to become an e-commerce partner for companies unfamiliar with e-commerce and cross-border trade (CBT).

Prior to signing the agreement, the province, Gangwon Economic Promotion Agency, and Shopee Korea jointly held the first online discussion forum in January, where Shopee announced support strategies for non-metropolitan companies entering Southeast Asia.