SEOUL, Nov. 5 (Korea Bizwire) — South Korean small and medium-sized watch makers are crying foul after suffering from heavy losses stemming from hundreds of models of fake luxury watches selling through a popular online shopping portals. The Korea Watch Industry Association (KOWIC) said in a press release issued on Wednesday that hundreds of models [...]
SEOUL, Sept. 3 (Korea Bizwire) — Employees impacted by the coronavirus outbreak at a logistics center of Coupang Inc., the country’s leading e-commerce operator, last May asked the prosecution to hold those accountable to justice. “Coupang attempted to cover up the mass outbreak as it violated the government’s quarantine instructions,” said the victims of the [...]
SEOUL, April 14 (Korea Bizwire) — Coupang Inc., South Korea’s top e-commerce company, said Tuesday its operating loss narrowed sharply in 2019 amid a jump in sales. Its consolidated operating loss stood at 720.5 billion won (US$592 million) last year, down 36 percent from the previous year’s 1.73 trillion won, the company said in a [...]
SEOUL, Aug. 7 (Korea Bizwire) — With the boycott of Japanese goods intensifying in South Korea, companies that some consumers have labeled as “Japanese companies” are struggling to explain themselves. It is not easy to clear up the misunderstanding as there are some complicated cases of stake relationships that are confusing even to consumers. Daiso, [...]
SEOUL, Jul. 26 (Korea Bizwire) — Coupang Inc., a major e-commerce company, has been dealt a series of blows over the past two months, including controversy over whether it is a Japanese company and problems with customer orders. Critics point out that while Coupang grew at a rapid pace over the years, it was not [...]
SEOUL, Jul. 19 (Korea Bizwire) — Amid Japan’s recent trade offensive against South Korea and the ensuing boycott movement in the nation against Japanese products, Coupang Inc., a major e-commerce platform in the country, is suffering from accusations that it is a Japanese company. The accusers point to the fact that Masayoshi Son, a Korean [...]
SEOUL, Jul. 18 (Korea Bizwire) — With the competition for eco-friendly delivery heating up, Coupang Inc. has introduced electric trucks. The South Korean e-commerce firm will deploy 10 Calmato EVs (electric vehicles) at the Coupang Logistics Service Delivery Hub in Daegu next month and is currently setting up recharging stations for the electric trucks. The [...]
SEOUL, Apr. 26 (Korea Bizwire) — Coupang Inc., a South Korean shopping portal, has transitioned into a tripartite leadership structure after recruiting a restructuring specialist as head of the human resources department, leading many to anticipate major restructuring of the company recently stricken with massive losses. Coupang was previously led by a single representative structure [...]
SEOUL, Apr. 22 (Korea Bizwire) — E-commerce is thriving in South Korea on the back of fast delivery and competitive pricing, but mounting losses by major operators are raising questions whether their business models are sustainable in the face of increasingly toughening competition, industry insiders said Monday. The e-commerce industry has seen explosive growth in [...]
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 [...]