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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 [...]

Civic Groups Accuse Coupang of Posting False Reviews for PB Products

Civic Groups Accuse Coupang of Posting False Reviews for PB Products

SEOUL, March 16 (Korea Bizwire) — A number of civic groups have accused e-commerce giant Coupang Inc. of mobilizing its employees to write false reviews for the company’s private brand products. Six civic groups, including People’s Solidarity for Participatory Democracy, held a press conference on Tuesday, announcing that they would file a report with the [...]

Coupang Moves to Cut Losses by Raising Service Charges

Coupang Moves to Cut Losses by Raising Service Charges

SEOUL, Jan. 4 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. has been focusing on an offensive strategy to bulk up while tolerating losses, but recently began raising service charges as part of efforts to make a strategic shift. The company raised monthly subscription fees for Wow membership from 2,900 won (US$2.43) to 4,990 [...]

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, [...]

Labor Ministry Recognizes Bullying Case at Coupang, Rebutting Company’s Internal Probe

Labor Ministry Recognizes Bullying Case at Coupang, Rebutting Company’s Internal Probe

SEOUL, Nov. 9 (Korea Bizwire) — The labor ministry has recognized that a workplace bullying incident occurred within e-commerce giant Coupang Inc. early this year, refuting a finding reached by the company through an internal probe, the company’s union said Tuesday. In response to a petition filed by a Coupang logistics center worker, the ministry’s [...]

Coupang Accused of Manipulating Working Employee Work Hours

Coupang Accused of Manipulating Working Employee Work Hours

SEOUL, Oct. 14 (Korea Bizwire) — E-commerce giant Coupang Inc. is facing accusations that it has been manipulating the working hours of employees. Rep. Yun Jun-byeong of the ruling Democratic Party claimed during government inspections of the Ministry of Employment and Labor and its sub-agencies on Tuesday that Coupang was using an application called ‘Coupunch’ [...]