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 [...]
SEOUL, March 8 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. has established an office in the Chinese border city of Yanji and hired a large number of local employees as part of efforts to diversify overseas direct purchase services through the expansion of its presence in China. According to industry sources, about 230 [...]
SEOUL, March 4 (Korea Bizwire) — The number of users of e-commerce platform 11Street is declining at a rapid pace, with some saying that the positive impact of the partnership it formed with U.S. retail giant Amazon.com last year has yet to materialize. According to the data from market researcher Nielsen Koreanclick, the number of [...]
SEOUL, March 3 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. said Thursday that its annual sales revenue and operating loss shot up to an all-time record last year due to increased costs from expansion and the pandemic. Coupang’s consolidated sales in 2021 jumped 54 percent on-year to US$18.4 billion, the largest volume since [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korean e-commerce companies are introducing a variety of new services to get the upper hand in the fast-growing online luxury goods market. SSG.com, the online mall arm of retail giant Shinsegae Group, announced a plan to introduce a new delivery service for luxury goods by the first quarter [...]
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 [...]
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 [...]
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, [...]
SEOUL, Oct. 29 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it has approved a deal by E-Mart Inc., a discount store chain under Shinsegae Group, to buy the Korean unit of U.S. e-commerce giant eBay Inc. In June, E-Mart signed a deal with eBay to acquire an 80 percent stake in eBay Korea [...]
SEOUL, Oct. 29 (Korea Bizwire) — South Korean online grocery delivery platform Market Kurly said Friday it aims to go public in the domestic market in 2022 as part of efforts to help hone its competitiveness. Market Kurly said it has picked NH Investment and two other brokerage houses as co-lead managers for its initial [...]