Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Trump Sues BBC for Defamation Over Edited Capitol Riot Speech Clip 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
Coupang, the leading e-commerce firm in South Korea, recently announced its withdrawal from Japan. It will discontinue its quick delivery service in the country just 21 months after it started operating its business there.
As per Nikkei, Coupang is set to close its fresh food and daily essentials delivery service in Setagaya, Tokyo and in Meguro. Starting March 21, customers will no longer be able to use the service, and the pull-out was said to have been confirmed on Sunday, March 12.
It was said that the Korean e-commerce giant made the decision to end its business in Japan so it can focus on Taiwan and South Korea. Moreover, part of the reason for the withdrawal is the huge decrease in demand for delivery service among Japanese customers as the COVID-19 pandemic wanes.
An official of Coupang also said, "We decided to withdraw our business from Japan based on the results of the trial operation of the service in Japan."
The Korea Herald reported that the pilot program for the delivery service was first launched in June 2021. It has promised quick delivery of items from nearby retail outlets and convenience stores in just 10 minutes within two key districts of Tokyo.
In a separate statement, an official told The Korea Herald, "Instead of Japan, we are aiming to focus more on the domestic (Korean) delivery market as our market share is considered not big enough.
He explained that the growth potential in the company's home ground is high. They can see its market value increasing to some KRW700 trillion or $530 billion by the year 2025.
Finally, he shared that Taiwan is Coupang's other target, so it is the other top priority market for its e-commerce business. The official said Korean-made products are really popular in the country, and the demand for online internet shopping is growing fast as well.
