NEW YORK, May 12 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. said Wednesday its first-quarter sales hit a new high, but operating losses widened sharply due to increased costs and investment. Sales stood at US$4.21 billion in the January-March period, up 74 percent from a year earlier, Coupang said in a regulatory filing. The [...]
SEOUL, April 13 (Korea Bizwire) — South Korea’s e-commerce giant Coupang Inc. saw its yearly revenue almost double in 2020 from a year ago on the back of explosive growth in the e-commerce sector, and its losses sharply narrowed, filing data showed Tuesday. Coupang’s sales stood at 13.92 trillion won (US$12.38 billion) in 2020, steeply [...]
WASHINGTON, March 11 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. made a splash in its landmark debut on the New York Stock Exchange on Thursday at an initial public offering price of US$35 each. The IPO price is higher than an earlier proposed range of $32 to $34. With 130 million shares offered, Coupang [...]
SEOUL, March 11 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. on Thursday said its initial public offering price was set at US$35 per share for its landmark debut on the New York Stock Exchange (NYSE), paving the way for the company to raise $4.5 billion with its value at around $63 billion. The [...]
SEOUL, March 3 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. is expected to make its landmark debut on March 11 on the New York Stock Exchange (NYSE), a day after fixing its initial public offering (IPO) price, financial industry sources said Wednesday. The speculation came after the NYSE confirmed that the IPO price [...]
SEOUL, Jan. 15 (Korea Bizwire) — The delivery market is bracing for Coupang Corp.’s move to jump into the delivery business. Coupang Logistics Service, a subsidiary of South Korea’s leading e-commerce operator, was recently certified by the Ministry of Land, Infrastructure and Transport to engage in cargo distribution business. Coupang Logistics acquired distributor certification by [...]
SEOUL, Dec. 24 (Korea Bizwire) — Coupang Corp., South Korea’s leading e-commerce operator, said Thursday it has launched a subscription-based video streaming service, heating up competition in the country’s growing over-the-top (OTT) media market. The e-commerce giant said its new service, Coupang Play, is currently available on Android smartphones and it will expand support for [...]
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 [...]