What: New internet giants appear in Asia and the West should notice.

Why it is important: Coupang started by  offering discount items in Korea, but is now leading the market and growing upward by starting to sell fashion and luxury, to the point of worrying market players such as Lotte, Hyundai or Shinsegae.

Korea’s e-commerce giant, Coupang, posted an impressive Q2 performance and is optimistic about its global potential. Despite Indonesia’s recent restrictions on selling low-value imported items to protect its local SMEs, Korea is embracing international e-commerce, offering cheaper foreign-sourced goods.

Coupang’s “global marketplace” connects Koreans with international sellers and vice versa, benefiting Korean and Taiwanese consumers alike. Although Korea has historically protected domestic industries, Coupang supports free trade, especially given the challenges in their domestic market.

They previously exited Japan due to fierce competition, and their current expansion in Taiwan, centered on rapid delivery, is crucial. Despite impressive Q2 figures (USD5.8 billion revenue, USD145 million profit), Coupang faces internal challenges, with staff forming unions over concerns like automation. Investors are keenly observing Coupang’s Taiwan strategy.

Why Coupang is optimistic about its global marketplace development