Coupang Archives | Be Korea-savvy
Softbank Pledges US$2 Bln Investment in Coupang

Softbank Pledges US$2 Bln Investment in Coupang

SEOUL, Nov. 23 (Korea Bizwire) — Japanese software giant Softbank Group Corp.’s chairman, Masayoshi Son, a third-generation Korean-Japanese most widely known by his Korean name “Son Jeong-ui” here, has reportedly decided to invest US$2 billion in Coupang, leaving experts seeking an explanation as to Son’s great interest in the Korean e-commerce website. Meanwhile, other competing [...]

Coupang Offers New Delivery Workers Flexible Schedule

Coupang Offers New Delivery Workers Flexible Schedule

SEOUL, Aug. 24 (Korea Bizwire) — The popular e-commerce company Coupang announced yesterday that it was initiating “Coupang Flex,” which will provide new jobs for those looking to perform deliveries for the company. “Coupang Flex” will allow applicants to freely select work dates that fit their personal schedule. Coupang explained this would enable applicants like [...]

Online Shopping Sites Suffer Consecutive Losses in 2017

Online Shopping Sites Suffer Consecutive Losses in 2017

SEOUL, April 16 (Korea Bizwire) – South Korean online shopping site operators continued to report losses in 2017 amid fierce market competition, regulatory data showed Monday. Coupang Inc. suffered a combined net loss of 673.5 billion won (US$628.5 million) last year, up 20 percent from 561.8 billion won reported a year earlier, the company said in a regulatory filing. Its sales jumped 40 percent on-year [...]

Online Shopping Giant Coupang Faces Criticism After Staff Cuts

Online Shopping Giant Coupang Faces Criticism After Staff Cuts

SEOUL, May 31 (Korea Bizwire) – South Korean online shopping giant Coupang is facing criticism over massive staff cuts in the wake of allegations of labor rights abuses that emerged yesterday. Coupang is widely known for its next day delivery service dubbed “Rocket Delivery”, but despite the popular policy that ships all items ordered before midnight [...]

Online Shopping Sites Suffer Consecutive Losses in 2016

Online Shopping Sites Suffer Consecutive Losses in 2016

SEOUL, April 14 (Korea Bizwire) – South Korea’s online shopping site operators continued to report operating losses last year from a year earlier, as more market competition hurt their profitability, regulatory data showed Friday. Coupang Inc. suffered a combined operating loss of 560 billion won (US$490.8 million) in the January-December period of 2016 compared with [...]

E-Commerce Industry Shackled in Ballooning Losses as Competition Stiffens

E-Commerce Industry Shackled in Ballooning Losses as Competition Stiffens

SEOUL, Feb. 14 (Korea Bizwire) – Despite the ballooning volume of e-commerce, deficits for online shopping malls are also bloating with even a rough estimate pointing to over 1 trillion won (US$876.88 million) last year, industry officials said Tuesday.  Industry records showed the country’s three leading social commerce sites — Coupang, Ticket Monster and WeMakePrice [...]

Social Commerce Companies Throw in the Towel, Tone Down Free Delivery Competition

Social Commerce Companies Throw in the Towel, Tone Down Free Delivery Competition

SEOUL, Oct. 12 (Korea Bizwire) – Social commerce companies are putting an end to competing each other with free delivery services as operating losses continue to soar. Coupang doubled the minimum purchase required for free delivery (Rocket Delivery) from 9,800 ($8.73) to 19,800 starting Tuesday.  Rocket Delivery is the company’s ambitious service that offers delivery within [...]

Coupang’s Signature “Rocket” Delivery Services to Be Legalized

Coupang’s Signature “Rocket” Delivery Services to Be Legalized

SEOUL, Aug. 31 (Korea Bizwire) – With Koreans increasingly likely to prefer online shopping over the physical experience, parcel delivery services are among the rapidly prospering businesses in Korea. Tuesday’s decision to abolish the Supply-Demand Regulation Policy, which made it difficult for service companies to increase their use of smaller trucks (1.5 tons and less), [...]