Coupang Invests 120 Billion In AI Start-Up Over The Last 3 Years..."Bridge role for South Korea-U.S. technical cooperation"

*This content was translated by AI.

Coupang announced on the 15th (Korea Standard Time) that it has invested $84 million (about 120 billion won) in global AI technology startups, including Korea, over the past three years.

"We are serving as a key bridge between economic and technological cooperation between countries in which we operate," Coupang interim CEO Harold Rogers said at the Semapo World Economy event held in Washington, D.C. "We are committed to supporting next-generation innovators who drive economic growth, strengthen national security, and redefine global trade through AI." The World Economic Summit, held by the US media Semafo, is called the US version of the Davos Forum.

Introducing the case of Contoro, a Korean AI robot start-up, as a representative investment example, he said, "We are seeking to introduce AI-based autonomous robots to Coupang logistics sites in Korea and other regions."

CEO Rogers explained, "With the adsorption plate technology attached to the robot arm, even if the delivered parcel is crushed or damaged, it can be accurately moved and packaged."

"Robot arm" developed by Contoro specializes in unloading boxes from global logistics containers and trucks. With technology that combines AI and human intelligence, remote control is possible and various sizes and weight boxes can be handled, resulting in a 99% success rate for unloading operations. Furthermore, giant language models (LLMs) interact directly with robots, allowing them to learn new techniques and diagnose performance changes in robotic machines. Coupang participated in a $12 million (about 18 billion won) Series A investment in Contoro early last year.

"Cooperation with Contoro is in line with the purpose of the recently signed U.S.-Korea Tech Prosperity Deal," Coupang said. "We are focusing on strengthening common national security priorities and accelerating R&D by expanding technical cooperation between the two countries."

CEO Rogers said of Coupang, "It is a technology company with startup DNA, and Korea is doing business with 190 regional countries around the world, and the largest market is Korea," adding, "It is very rare for an American company to become an employer of this size in advanced countries such as Korea."

Coupang explained, "Throughout our global business, we have invested billions of dollars in AI technology, machine learning, advanced robotics, smart logistics, cloud computing, and other innovations."

Coupang invested in venture capital SBVA's Alpha Korea Fund in 2023 to support the global market expansion of 20 Korean startups. It has invested in Korean AI robotics company CMES and U.S. tech start-up Tempo. Last year, the government invested 75 billion won in the Alpha Korea Sovereign AI Fund of the "Next Unicorn Project" promoted by the government to foster domestic AI unicorn companies, creating a 150 billion won fund with the government's parent fund. Through this, it plans to invest more than 10 billion won on average in 14 domestic AI start-ups and growth companies.

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*This content was translated by AI.