SEOUL, Nov. 8 (Korea Bizwire) – In a significant move that cements his position among South Korea’s most successful entrepreneurs, Bom Kim, the founder and executive chairman of Coupang, has announced plans for a major stock sale, fourteen years after founding the company and three years after its landmark NYSE debut. Kim, who moved to the [...]
SEJONG, Oct. 31 (Korea Bizwire) – South Korea’s antitrust regulator has disclosed details of how Coupang, the country’s leading e-commerce platform, analyzed vendors’ product data to develop competing private-label merchandise, according to documents released on October 29. The Korea Fair Trade Commission (KFTC) revealed in its ruling that Coupang systematically studied suppliers’ production processes and sales [...]
SEOUL, Oct. 4 (Korea Bizwire) – Coupang, the South Korean e-commerce giant, has seen an increase in its user base despite raising its membership fees. This development challenges predictions of a mass exodus from the platform and underscores the company’s strong market position in a fiercely competitive landscape. According to data from WiseApp, Coupang’s monthly active [...]
SEOUL, Sept. 10 (Korea Bizwire) – South Korea’s Ministry of Employment and Labor is preparing to conduct a labor inspection of Coupang, the country’s leading e-commerce company, following a series of worker deaths in recent months. Kim Min-seok, the Vice Minister of Employment and Labor, addressed the issue during a plenary session of the National Assembly’s [...]
SEOUL, Aug. 14 (Korea Bizwire) — Coupang Inc. said Wednesday it has resumed purchasing CJ CheilJedang Corp.’s products for delivery after a 20-month hiatus due to differences over their deals. CJ CheilJedang stopped selling its products to Coupang in December 2022 as they failed to narrow a gap over CJ’s product supply prices with the [...]
JEJU, Jul. 30 (Korea Bizwire) – The recent launch of Coupang’s late-night Rocket Delivery service on Jeju Island has been marred by tragedy, prompting labor unions to demand a thorough investigation and increased oversight of working conditions. On July 29, the Jeju branch of the Korean Confederation of Trade Unions (KCTU) held a press conference outside [...]
SEOUL, Jul. 2 (Korea Bizwire) – In a move that contrasts with its main competitor, Coupang Eats announced on July 1 that it will continue its policy of waiving packaging fees for all partnered restaurants, reinforcing its commitment to supporting small and medium-sized businesses in the food service industry. This decision comes as Baedal Minjok (Baemin), [...]
SEOUL, Jun. 29 (Korea Bizwire) – Allegations of death by overwork have surfaced following the passing of a 40-year-old delivery driver who had been working for Coupang’s late-night Rocket Delivery service. On June 27, the Committee for Countermeasures Against Overwork Deaths of Delivery Workers and the family of the deceased, Jung Seul-gi, held a press conference [...]
SEOUL, Jun. 17 (Korea Bizwire) – In a bold move that has sparked speculation in South Korea’s e-commerce industry, Coupang, the country’s largest online retailer, has hinted at the possibility of suspending its much-lauded “Rocket Delivery” service. This threat comes in the wake of the company being slapped with a record 140 billion won fine by [...]
SEOUL, Jun. 13 (Korea Bizwire) – In an unprecedented move, South Korea’s antitrust regulator, the Fair Trade Commission, has levied a record fine of 140 billion won against Coupang, the country’s largest e-commerce company, on allegations of unfairly favoring its own products over those of third-party sellers. The staggering penalty, the highest ever imposed [...]