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TMON Introduces New Payroll System with Gamification

TMON Introduces New Payroll System with Gamification

SEOUL, May 19 (Korea Bizwire) — TMON Inc., one of South Korea’s major e-commerce operators, said Wednesday it will introduce a new payroll system with gamification starting from July. Under the new system, employees can earn higher salaries if they achieve higher levels by gaining experience points depending on individual performance. They can get experience [...]

E-commerce Giant Coupang’s Q1 Loss Narrows on Bumper Sales

E-commerce Giant Coupang’s Q1 Loss Narrows on Bumper Sales

SEOUL, May 12 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. said Thursday its first-quarter operating loss narrowed sharply from a year earlier thanks to record sales. Its operating loss stood at US$205.7 million in the January-March period, down 23 percent from a year earlier, the New York-listed e-commerce behemoth said in a regulatory [...]

Antitrust Regulator Launches Probe into Coupang for Alleged False Reviews

Antitrust Regulator Launches Probe into Coupang for Alleged False Reviews

SEOUL, March 23 (Korea Bizwire) – South Korea’s antitrust regulator will investigate e-commerce giant Coupang Inc., suspected of mobilizing employees to post false reviews on private brand (PB) products for more exposure and to attract customers, industry sources said Tuesday. Civic groups had filed reports with the Fair Trade Commission (FTC) about the suspected act [...]

E-Commerce Latecomers Attempt to Differentiate Themselves Through Specialized Business Models

E-Commerce Latecomers Attempt to Differentiate Themselves Through Specialized Business Models

SEOUL, Jan. 20 (Korea Bizwire) — As the dominance of the top three players — Naver Corp., Coupang Inc. and SSG.com — is solidifying in the South Korean e-commerce market, latecomers are adopting drastic differentiation and transformation strategies. Wemakeprice Inc., a local open market operator, added a special button that is connected to SSG.com to [...]

E-commerce Operators Ignore Losses in Cutthroat Competition for Market Share

E-commerce Operators Ignore Losses in Cutthroat Competition for Market Share

SEOUL, Nov. 29 (Korea Bizwire) — Competition is heating up among South Korean e-commerce operators to get the upper hand in the market. Regardless of losses, they are making aggressive investments while focusing on increasing their market share. Investment has primarily focused on logistics centers and marketing. E-commerce giant Coupang Inc., which recently raised funds [...]

E-commerce Giant Coupang Reports Larger Losses in Q3 Despite Record Sales

E-commerce Giant Coupang Reports Larger Losses in Q3 Despite Record Sales

SEOUL, Nov. 12 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. on Friday reported a sharp increase in net losses for the third quarter despite record-high sales revenue, due largely to operational costs and investment. Net losses over the July-September period came to US$323.97 million, up 87 percent from US$173 million a year before, [...]