Coupang launches $195m distribution centre in Busan
It is expected to be completed by 2024.
Coupang is investing $195m (KRW220b) to launch a new distribution center in the southeastern port city of Busan with goals to spur its global capacities, Yonhap reported.
The company said it will set up a new distribution center on a 170,000-square-meter tract of land in Gangseo District in Busan, according to the memorandum of understanding signed with Busan Metropolitan City and the Busan-Jinhae Free Economic Zone Authority (BJFEZ).
According to the project, the Busan center will be completed by 2024.
After listing on the New York Stock Exchange, Coupang expressed plans to set up four distribution centers in South Korea. Priorly, Coupang said it will establish distribution facilities in North Jeolla Province, South Gyeongsang Province and North Chungcheong Province.
Coupang said it will invest a combined $902.73m (KRW1.02t) in launching these four operations, which are estimated to create about 9,500 new jobs.