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| A Taiwanese customer orders Korean products on Coupang's online shopping platform at her home in Taipei, Oct. 20. Courtesy of Coupang |
By Kim Jae-heun
Korea's largest e-commerce firm Coupang started its flagship rocket delivery service in Taiwan, the company said Wednesday. Millions of products directly purchased by Taiwanese will be delivered across the island country free of charge.
Coupang said its business expansion in the East Asian country will be able to help many small and medium-sized businesses in Korea, which manufacture 90 percent of items available for the rocket delivery service in Taiwan.
Coupang will handle most of the expenses and overseas sales process from logistics, customs clearance, import tax collection and last mile delivery in Taiwan and many companies are already taking advantage of this opportunity already.
The e-commerce firm tested its rocket delivery service in Taiwan from June, selling over 5 million items varying from cosmetics, health food, baby goods, home appliances and household products.
"We are constantly working to make life easier for people around the world with Coupang, while seeking mutual growth with small business owners. Korean products are gaining popularity among Taiwanese and we are trying to connect local firms with Taiwanese customers in a totally new way. Considering that the Taiwanese e-commerce market still has huge potential, we believe that our challenge has just started," a Coupang Inc. official said.
Coupang Inc. is the global parent company of Coupang.
According to data released from the U.S. Department of Commerce's International Trade Administration, Taiwan has one of the world's highest rates of internet use.
Taiwan saw 24.5 percent growth in the e-commerce sector last year, and this means significant opportunities for Coupang's online shopping business.
In particular, Taiwan's population density is 673 people per square kilometer, which is higher than that of Korea, but its e-commerce penetration rate is lower. Considering the explosive growth of the e-commerce market in Taiwan and the similarity of its population demographics to Korea's, Coupang's global expansion is expected to provide an undeniable opportunity for domestic small business partners.
Meanwhile, Coupang is offering simple rocket delivery services for direct purchases in Taiwan as it does in Korea. Taiwanese customers can get their items delivered free if they purchase more than 690 Taiwan dollars (about 31,200 won or $21.87) worth of products. The ordered items will be sent on the first flight to Taiwan the next day after the purchase is made online.
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