Coupang, South Korea’s leading e-commerce corporation, has announced plans to increase its investment in the Taiwanese market after reporting four consecutive quarters of profits in the region.
The company saw its sales increase by 36 percent in the fourth quarter of 2020, and profits rose to $54 million. This makes Coupang one of the few e-commerce companies to have turned a profit in Taiwan this year.
Coupang first launched its services in the Taiwanese market in 2019, and currently has about 100 million users in the country. Its success in the market has been helped by the popularity of its Ride and Order services, both of which are used by many Taiwanese consumers.
To capitalize on this success, Coupang has said it will increase its investments in the Taiwanese market significantly. The company said that it will invest in developing new services and products, as well as expanding its operations in the country.
Coupang has also said it will look to partner with local companies and organizations. This includes engaging in collaborations with Taiwanese entrepreneurs and startups. The company hopes this will help it develop and expand its existing services and products, in order to create greater value for customers.
Coupang is not the only e-commerce platform to turn a profit in Taiwan, as other companies such as eBay and Amazon have also seen strong growth. However, Coupang is the only e-commerce company to report four consecutive quarters of profits in Taiwan, making them a leader in the market.
The company’s success in Taiwan is set to continue, with Coupang now looking to expand their presence in the country even further. With their new investment plans, it looks like the company has a bright future in the Taiwanese market.
