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Coupang's Plans to Disrupt the Used Car Market with "Courung" Brand Trademark

Photo by Obi - @pixel7propix / Unsplash

South Korean e-commerce giant Coupang reportedly applied for ten trademarks in September.

By analyzing the categories within the trademarks, market analysts have begun to speculate on the new business models Coupang may be planning to launch.

One area that Coupang is considering entering is the used car sales and mobility business.

According to some South Korean media reports, Coupang is planning to enter the used car sales market under the brand name "Courung."

Coupang has registered several businesses under this trademark, including auto financing, auto lease financing, auto insurance consulting and brokerage, auto insurance information, used car review and evaluation, and price comparison services.

According to KOSTAT, the used car sales market in South Korea was worth KRW 12.4 trillion (US$10.3 billion) in 2018.

Despite being a profitable market, it is also known for its information asymmetry.

From January 2018 to July 2020, there were 27,783 complaints related to the purchase of used cars, 76.7% of which were related to the performance or condition of the vehicle.

Looking at the coverage of the "Courung" trademark, it is clear that Coupang has plans to enter the entire mobility ecosystem.

This includes businesses such as car and bike leasing, traffic flow and congestion information, car rental reservations, limousine services, vehicle tracking, and car leasing information via the Internet.

Coupang's expansion plans are not limited to the used car and mobility market.

The company has also filed trademark applications for Coupang/Rocket Wow and Coupang/Rocket Play, which are expected to include gaming services.