Coupang Advances 313.1 Billion KRW Settlement Payments to Small and Medium Merchants Ahead of Chuseok

Marketplace and Rocket Growth Sellers Targeting Approximately 137,000 People

Coupang announced that it will pay 313.1 billion KRW in settlement funds due at the end of September to Marketplace and Rocket Growth sellers on the 13th. This early payment targets approximately 137,000 small business sellers registered on Marketplace (about 120,000) and Rocket Growth (about 17,000).

Coupang is providing early settlement payments to small and medium-sized business sellers to support those who experience a temporary surge in funding needs around the holidays.

Coupang, in celebration of Chuseok, advances payment of 313.1 billion KRW to over 130,000 small and medium-sized merchants.
[Photo by Coupang]

Previously, in 2021, Coupang also made early payments totaling 100 billion KRW to small and medium-sized sellers. The amount Coupang supported for small business sellers' market expansion in 2022 exceeded 680 billion KRW.

Coupang explained that this early settlement payment is expected to greatly help local small business sellers. Currently, about 74% of Coupang’s small business sellers are located outside Seoul. The transaction amount of small business sellers in non-Seoul regions such as Jeju, Ulsan, Chungbuk, and Gyeongbuk (as of 2022) is approximately twice that of small business sellers in Seoul. The total transaction amount of small business sellers registered on Coupang also increased to 9.18 trillion KRW in 2022, more than doubling compared to 2019.

A Coupang representative said, "Co-growth with local small business sellers is the true path for Coupang’s growth," adding, "We will continue to expand support measures that can practically help small business sellers."