ShipStation, Coupang Partner to Help Merchants Enter S. Korean Market

Cloud-based eCommerce shipping solution ShipStation has partnered with South Korean online retailer Coupang to make it easier for businesses to enter new markets with efficient cross-border fulfillment. 

With the partnership, ShipStation has become the first U.S. shipping partner to integrate with Coupang, enabling the shipping software provider’s U.S.-based merchants to efficiently ship and sell products on Coupang’s marketplace, according to a Thursday (Sept. 22) press release. 

“We are delighted that this international partnership connects our merchants with the tools they need to enter the fast-growing South Korean [eCommerce] marketplace,” ShipStation General Manager Robert Gilbreath said in the release. 

As PYMNTS reported in August, South Korea’s eCommerce market is the sixth largest in the world with an annual revenue of $92 billion. 

Read more: An Insider’s View of S. Korea’s $92B eCommerce Market 

In addition, the country is the world’s tenth-largest market for luxury goods, with South Korean buyers expected to purchase $5.8 billion worth of such goods this year, according to the “Global Commerce Tracker®,” a PYMNTS and Worldline collaboration. 

Coupang, which has been called “the Amazon of South Korea,” expects its standing and share within the market to continue to grow along with the country’s highly digitalized economy, Coupang executives said in August during the company’s quarterly earnings call. 

Read more: After 17-Month Slog, Coupang Sees Light at the End of the Losses 

The firm predicts that South Korea will become the third-largest eCommerce market in the coming years, and reports that nearly half of Coupang’s cross-border retail sales comes from the United States, according to the press release. 

“South Korea is a powerhouse when it comes to online sales, and we’ve seen consumers embracing more cross-border purchases in recent years,” Gilbreath said in the release. “Our hope is that businesses benefit from reaching new audiences and that consumers find products they’ll love from all over the globe.”