Coupang Unveils Vision for AI-Driven Commerce at APEC CEO Summit

Coupang Unleashes AI Innovations for Global Commerce

Coupang Inc., the parent company of Rocket Now, made a significant announcement during the APEC CEO Summit, showcasing its commitment to revolutionizing commerce through artificial intelligence (AI). Robert Porter, Coupang's Chief Global Affairs Officer, emphasized the role of AI in fostering U.S. exports and maintaining America’s leadership in advanced technologies. Between 2022 and 2024, Coupang is set to invest over $3 billion to drive AI innovation and contribute to the advancement of technologies within the APEC region.

During his keynote speech, Porter highlighted the necessity for U.S. technology firms like Coupang to support global trade and enhance U.S. exports. He stated, "Coupang is leveraging AI and advanced technologies to promote the growth of American businesses and maintain the U.S. leadership in the AI sector." Porter elaborated on the company’s investments in AI technologies, machine learning, advanced robotics, smart logistics, and cloud computing, which have amounted to billions of dollars. These investments support the growth of hundreds of thousands of small to medium enterprises (SMEs) that utilize Coupang’s platform globally, including in countries like the U.S. and beyond.

Coupang's world-class end-to-end logistics system utilizes AI to restructure global supply chains, achieving unparalleled consumer experiences through optimized pricing and delivery times. The advancements in AI technology empower Coupang to anticipate customer needs by accurately predicting demand for products and determining the most efficient delivery routes. By integrating AI-driven logistics technologies, such as autonomous forklifts and sorting robots, the company has succeeded in automating the fulfillment process, significantly enhancing operational efficiency.

Coupang's innovative spirit allows users to enjoy exceptional services, such as ordering fresh produce or electronics before midnight and having them delivered by morning—a feat that previously seemed impossible. Porter's vision paints Coupang as a vital component in connecting the U.S. with trade partners like Korea, enhancing international commerce and creating new opportunities within the global economy. Through its innovative efforts, Coupang accelerates the growth of thousands of U.S. brands reaching customers in major APEC markets such as Korea and Taiwan, contributing billions in U.S. product and agricultural exports each year.

Not only does Coupang facilitate significant growth for large corporations, but its innovations also empower small wellness companies and farmers. For instance, Carlson Labs, a women-owned small business based in Illinois, witnessed a remarkable 48% increase in sales within just one quarter by selling wellness products to Asian customers via Coupang. Moreover, several watermelon farms in Korea have utilized Coupang’s AI innovations to deliver freshly harvested watermelons to consumers on the same day.

Creating Employment Through AI Innovation

Coupang's commitment to advancing AI innovation extends beyond technological enhancement; it also plays a crucial role in job creation. While Coupang is headquartered in the U.S., it has emerged as a leading job creator in Korea, currently ranking as the second largest private employer in the country. The company strategically positions a significant number of its logistics and delivery personnel outside of Seoul, ensuring that technology fosters economic opportunities across regions.

Looking to the future, Coupang intends to continue investing in AI and advanced technologies within the APEC region, aiming to provide world-class customer experiences while promoting the export of U.S. products and agricultural goods, supporting SME growth, and reinforcing the U.S. government's initiatives for AI innovation.

For more information, visit www.aboutcoupang.com.

About Coupang

Coupang, Inc. (NYSE: CPNG) is listed on the New York Stock Exchange and ranks among the top 150 technology companies in the Fortune 500. The company operates a variety of brands, including Coupang, Eats, Play, Rocket Now, and Farfetch, offering services in retail, food delivery, video streaming, and fintech to customers worldwide. Currently, Coupang has a presence in over 190 countries and regions.