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E-commerce Giant Coupang Denies Rumors over Sale of Online Food Delivery Platform

E-commerce Giant Coupang Denies Rumors over Sale of Online Food Delivery Platform

SEOUL, Sept. 13 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. on Tuesday denied rumors that it is selling its online food delivery platform Coupang Eats. “The rumors about the sale of Coupang Eats are completely groundless,” the New York-listed e-commerce behemoth said in a statement, adding it has not had any related discussions [...]

E-commerce Giant Coupang’s Q2 Operating Loss Narrows on Brisk Sales

E-commerce Giant Coupang’s Q2 Operating Loss Narrows on Brisk Sales

SEOUL, Aug. 11 (Korea Bizwire) — E-commerce giant Coupang Inc. said Thursday its second-quarter operating loss narrowed sharply from a year earlier on resilient sales. Operating loss stood at US$67.14 million in the April-June period, down 87 percent from a year earlier, the New York-listed e-commerce behemoth said in a regulatory filing. It represents the [...]

Coupang Financial to Accelerate Competition in Installment Financing Industry

Coupang Financial to Accelerate Competition in Installment Financing Industry

SEOUL, Aug. 9 (Korea Bizwire) — The installment financing industry is up for fierce competition with e-commerce giant Coupang Inc. joining the arena. The Financial Supervisory Service said Monday that Coupang Pay’s subsidiary Coupang Financial has newly registered as an installment financing company last week. Coupang Pay owns a 100-percent share of Coupang Financial. Coupang [...]

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 [...]