Coupang Teams Up With US Trade Officials To Supercharge American Exports

Shares of technology company Coupang Inc. (NYSE:CPNG) are trading higher on Wednesday after launching a new program aimed at allowing American businesses to pitch and sell products internationally.

Partnering with the International Trade Administration, the initiative aims to boost U.S. exports and create new global sales opportunities.

Called Rocket Pitch, the program offers U.S. businesses a chance to present their consumer products during an online event held in collaboration with the U.S. Commercial Service.

The program will spotlight major product sectors such as food and drinks, dietary supplements, infant care, fitness nutrition, and personal care items.

Also Read: Zyn Gum Maker’s Smoke-Free Business Revenue Jumps 15%, Raises Annual Profit Outlook

Companies chosen will get instant purchase commitments from Coupang, South Korea's leading e-commerce platform. Coupang is aiming to facilitate the export of American-made products by removing common barriers to entry.

Alongside automatic purchase agreements, the company will offer marketing support, translation services, logistics solutions, customs handling, and customer service management.

“Coupang makes global expansion easy for U.S. sales partners of any size, and we have all the tools you need to be a success at cross-border trade,” said Coupang’s Vice President of Global eCommerce, Jonathan Burks.

Sellers will also benefit from return handling and guidance from U.S. trade experts.

South Korea, ranked as the world's fourth-largest e-commerce market, boasts an active online shopper base, with 98% of South Koreans aged 20-39 shopping online.

Coupang’s logistics system promises ultra-fast delivery options, including same-day and overnight shipping, giving U.S. exporters a competitive edge.

Price Action: CPNG shares traded higher by 4.1% at $22.58 at last check Wednesday.

Read Next:

• Vertiv, NVIDIA, iGenius Launch AI Supercomputer Project In Italy

Photo: Shutterstock