South Korean e-commerce company, Coupang is planning to foray into the Indian market. The government officials revealed that the company has started discussion with the Indian government about entering the market.
“We have received an application from the South Korean government, in which Coupang has expressed interest in entering India,” officials stated before adding “Dialogues with the Coupang delegation are likely to start next month.”
Coupang is based out of Seoul and also known as “Amazon of South Korea”, if it enters India then it will compete directly with Flipkart and Amazon.
Though Flipkart and Amazon have gained success over the last decade, they are facing competition from the government-backed ONDC, Reliance’s JioMart and Tata Digital.
Coupang’s proposal comes a year after the company announced plans to close its Japanese operations. According to a March 2022 report of a media source, the company decided to withdraw from Japan 21 months after it began offering its online delivery service there.
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