Coupang, Sales of Participating Small and Medium Business Support Program Companies Up 121% in One Year

Collaboration Among Local Governments Nationwide to Expand Market Access and Support Advertising and Promotional Activities for Small and Medium-Sized Businesses

[Asia Economy Reporter Kim Cheol-hyun] The win-win cooperation between Coupang and local governments nationwide is returning as sales growth for local small and medium-sized merchants. Coupang announced on the 14th that the sales of local small and medium-sized merchants participating in the 'Cheer Up! Republic of Korea' campaign grew by an average of about 121% over one year.

To revitalize the local economy and support small and medium-sized merchants, Coupang conducted the 'Cheer Up! Republic of Korea' campaign from June to December last year targeting small and medium-sized merchants located in seven local governments nationwide (Seoul, Gyeongbuk, Daegu, Gyeongnam, Chungbuk, Chungnam, Gwangju). The campaign supports expanding sales channels, advertising, and promotional activities. Coupang and local governments jointly support marketing costs such as advertising and promotion expenses for small and medium-sized merchants' products and provide opportunities for local small and medium-sized merchants to expand their sales channels nationwide through Coupang's nationwide sales network.

The support from Coupang and local governments led to growth for the local small and medium-sized merchants participating in the campaign. The sales of small and medium-sized merchants participating in this campaign on Coupang grew by 121% compared to the same period last year. This level nearly doubled the 69% sales growth rate of small and medium-sized merchants nationwide during the same period. In particular, Gyeongbuk, which suffered greater difficulties due to the early spread of COVID-19, recorded the highest sales growth of 244% among participating local governments through active participation such as holding product evaluation meetings.

Yang Chil-sik, CEO of Sunsu Korea Co., Ltd., which manufactures baby wet wipes, said, "By participating in the 'Cheer Up! Republic of Korea' campaign jointly held by the Gyeongbuk Economic Promotion Agency and Coupang, our sales grew by 584% compared to the same period last year, allowing us to overcome the crisis." He added, "Over the past five years working with Coupang, our sales have increased ninefold, and our staff has grown fourfold."

Park Dae-jun, head of Coupang's New Business Division, said, "At Coupang, it is not a trade-off relationship where one side benefits at the expense of the other, but through technology and innovative systems, everyone will grow together." He added, "Efforts to grow together with local small and medium-sized merchants will be further expanded, and this year as well, through local government support projects starting from June, we will continuously strive to be a strong pillar for local small and medium-sized merchants."