[THE INVESTOR] Korea’s leading e-commerce platform cafe24 announced on Oct. 25 that it has launched its e-commerce platform in Japan in its latest attempt to expand overseas.
The KOSPI-listed company said its Japanese platform www.cafe24.co.jp provides a one-stop solution for Japanese businesses that hope to reach out to global customers with its online store-building, payment gateway, logistics and marketing services.
The company said Japanese businesses can build an online shopping mall in seven different languages -- Japanese, English, traditional Chinese, simplified Chinese, Spanish, Portuguese and Korean. It also provides global and local payment gateway services including SoftBank Payment Service and PayPal.
“Our expansion into Japan’s e-commerce market marks an important milestone and adds momentum to our growth as a global company,” cafe24 CEO Lee Jae-suk said. “We will continue to rigorously sophisticate the Japanese platform in accordance with local situations to successfully set roots in Japan’s e-commerce market.”
Japan’s e-commerce market is the fourth-biggest in the world, with its market value reaching 16.5 trillion Japanese yen (US$147 billion) in 2017. It is growing by more than 1 trillion Japanese yen each year, according to Japan’s Ministry of Economy, Trade and Industry.
Following Japan, the company plans to make a foray into English-speaking countries, Southeast Asia, and other nations across the globe.
By Park Ga-young (gypark@healdcorp.com)