Coupang Partners With The U.S. Department Of Commerce To Co-Host EMPOWER Asia Webinars To Promote U.S. Exports

Author: Benzinga Newsdesk | March 05, 2024 09:11am

Interactive sessions targeting women-owned U.S. businesses in the Food & Beverage and Apparel & Fashion industries focused on how to access South Korea's dynamic consumer goods market

Coupang (NYSE:CPNG), a leading global retailer headquartered in Seattle, Washington, with operations in Korea and Taiwan, is pleased to continue its Strategic Partnership with the U.S. Department of Commerce and International Trade Administration (ITA) by co-hosting two interactive webinars for U.S. entrepreneurs and sellers to learn about internet-enabled cross-border trade opportunities in Korea. While special focus was placed on women-owned businesses, the sessions were open to all U.S. sellers and business owners.

In line with the Department's strategic objective to support international economic cooperation, advancement of underrepresented communities, and U.S. exports, ITA's EMPOWER Asia (Export Markets Providing Opportunities for Women's Economic Rise in Asia) is focused on increasing the number of U.S. women-owned businesses that export to Asia by leveraging ITA's expertise. Coupang, one of the fastest growing American retailers in global markets that has facilitated the export of billions of USD worth of U.S. goods to Korea and Taiwan, shared its insights with attendees interested in growing their businesses by tapping into Korea's rapidly growing commerce market, which is expected to exceed $563 billion in sales by 20271.

Participants learned about U.S. Commercial Services' support of exporters, received an introduction to Korean commerce and how to grow their businesses by selling with Coupang, and gained valuable insights on South Korean consumers. Speakers included Aileen Nandi, Executive Director for Asia, U.S. Department of Commerce; You Jin Oh, Trade Specialist, U.S. Commercial Service, South Korea; Lisa Allen, Director, Agricultural Trade Office, U.S. Department of Agriculture, Korea; Mimi Choi, Head of Consulting, Asiance; and Gerald Hoe, Head of Global Marketplace, Coupang. Coupang also answered live questions from attendees, covering a range of topics about how to do business and succeed on Coupang's platform.

"We are delighted to collaborate with Coupang to enable greater participation of women-owned businesses in exploring cross-border eCommerce opportunities in Korea," said Jay Park, Commercial Officer at U.S. Embassy Seoul. "By leveraging U.S. Department of Commerce and the International Trade Administration's expertise and broad presence in Korea, our goal is to offer essential guidance and assistance to empowering more women-owned businesses as they venture into trading with Korea, opening up fresh avenues for growth and partnership."

"As a U.S. business and one of the fastest growing retailers in Asia, Coupang serves as one of the most trusted and proven partners for U.S. sellers to grow their business overseas," said Bill Anaya, Vice President of Global Government Affairs, Coupang. "With our focus on a customer-first digital commerce experience in Korea that serves more than 20 million consumers, Coupang is pleased to support the success of American sellers, from major brands to SMEs. Through our platform, Coupang is uniquely positioned to accelerate increased U.S. exports to Asia and the other important objective we share with the Commerce Department to advance women-owned businesses and leadership."

1 Euromonitor International Retailing 2024, Consumer Foodservice 2024, and Travel 2024

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