Coupang secures Yatap hub as Korea ecommerce logistics race heats up

Coupang is putting 155 billion won into a third-party allotment capital increase of an IGIS Asset Management real estate private equity fund that owns the Bundang Yatap logistics center in Seongnam, Gyeonggi Province, according to Chosunbiz. Once the investment completes, Coupang's stake in the fund will reach 99.8%.

IGIS bought the center at auction for 222.653 billion won, after seven failed rounds. Coupang put 77.73 billion won into the fund that year and leased the whole site. This month Coupang also committed 20 billion won to a fund tied to a Pocheon logistics center project and 390 billion won to Coupang Fulfillment Services, bringing the month's commitments to 565 billion won.