Coupang, a South Korean eCommerce behemoth, is apparently in talks with the Indian government and has plans to join the Indian market.
Reports are taking rounds on the internet depicting that Coupang has shown interest in accessing one of the most significant eCommerce sectors in the world, and the South Korean government has applied to India on its behalf.
Government officials announced that “dialogues with the Coupang delegation are likely to start next month”.
The eCommerce company was started in 2010 by billionaire Korean-American Bom Suk Kim, and it gained fame after launching its guaranteed swift delivery service throughout the nation.
Known as the ‘Amazon of South Korea’ and having headquarters in Seoul, if Coupang enters the Indian market, it will face stiff competition from Flipkart, a homegrown rival, and Seattle-based Amazon.
The government-backed Open Network for Digital Commerce and other domestic eCommerce platforms, such as Reliance JioMart and Tata Digital, are posing threats to the two titans, despite the fact that they have a ten-year history of success in the Indian industry.
India is quickly establishing itself as a valuable eCommerce industry, although it is still underpenetrated.
A year after Coupang declared its withdrawal from Japan and only 21 months after launching its guaranteed same-day or next-day delivery service, the eCommerce company announced it.
Coupang: South Korean e-commerce giant ventures into India
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