South Korean e-commerce giant Coupang said Wednesday it has launched a cross-border online shopping service in the burgeoning Taiwanese market, saying it would help small and medium-sized Korean companies expand their businesses overseas.
Through the Taiwanese version of Coupang's mobile app, consumers in Taiwan can use the company’s ultrafast Rocket Delivery service. Customers can order millions of groceries, daily necessities and other products from South Korea, and receive them in less than a week, Coupang said, citing local sources there.
Currently, international standard shipping services Taiwan from overseas including South Korea take more than three weeks and are charged a lot more for faster delivery, it added, without suggesting actual numbers.
Those who purchase products worth more than 690 New Taiwan dollars ($21.40) through Coupang can enjoy free shipping, the company said. Purchase orders under the minimum price are charged a delivery fee of NT$195.
Citing data from the US Department of Commerce, the company said Taiwan has among the largest numbers of internet users. It recorded 24.5 percent growth in e-commerce last year as well.
“Compared to South Korea, Taiwan has higher population density, but it has a lower number of e-commerce users. This means the country has a huge potential of growth in online shopping. It is also showing fast-growing interest in Korean products,” Coupang said.
The company stressed that its cross-border delivery service offers new business opportunities for Korean small and medium-sized enterprises since more than half of the products are manufactured by them.
“SMEs can use Coupang’s infrastructure in marketing, customer service and administrative management and focus on producing better products. This will support their overseas expansion as well as digitalization,” said Kang Hyung-koo, a business professor at Hanyang University in Seoul, in a statement.
Coupang has also launched a beta service for fast delivery within Taiwan. Consumers can order tens of thousands of the bestselling groceries, daily necessities and baby products stocked in local warehouses and receive them the next day.