SEOUL, Aug. 31 (Korea Bizwire) – With Koreans increasingly likely to prefer online shopping over the physical experience, parcel delivery services are among the rapidly prospering businesses in Korea. Tuesday’s decision to abolish the Supply-Demand Regulation Policy, which made it difficult for service companies to increase their use of smaller trucks (1.5 tons and less), [...]
SEOUL, June 22 (Korea Bizwire) – While the social commerce market has been growing rapidly in Korea, the Korean Fair Trade Commission (FTC) has begun investigating unfair trade practices at Korean social commerce businesses. According to an industry expert, Coupang and Ticketmonster are being accused of violating the Large Scale Distribution Law, which triggered the FTC’s [...]
SEOUL, May 12 (Korea Bizwire) – Coupang, a Korean e-commerce website, is expanding its platform to an open market, offering direct sales and purchases between consumers and suppliers. Coupang is a social commerce platform that previously focused on curated commerce in the form of special ‘deals’. It’s an attempt to make up for its weakness in product [...]
SEOUL, April 18 (Korea Bizwire) – The lines between types of retailers are blurring, with open markets and social commerce businesses broadening their horizons to retail brokerage services. The industry is leaving no stone unturned in a push to attract consumers to mobile shopping markets. Large offline discount stores are building logistics centers for [...]
SEOUL, April 14 (Korea Bizwire) – Coupang, South Korea’s leading e-commerce operator, said Thursday its sales jumped more than three-fold in 2015 thanks to its delivery service, but its operating loss widened due to big investments in logistics capacity. Coupang posted 1.13 trillion won (US$ 976.66 million) in sales last year, becoming the first social commerce [...]
SEOUL, March 9 (Korea Bizwire) – Online book stores are pushing back their deadlines for same-day delivery, and jumping into the current delivery war that started when Coupang launched its ‘Rocket Delivery’ service. While the bookstores’ new service is expected to attract more customers, concerns over driver safety are increasing. Yes 24, the largest online bookstore [...]
SEOUL, March 3 (Korea Bizwire) – Coupang, a leading South Korean e-commerce operator, is expected to log mounting operating losses for 2015 as big investments in logistics capacity weighed on the financials of the startup company, industry sources said Thursday. Coupang is expected to log over 400 billion won (US$326.9 million) in operating losses when [...]
SEOUL, Feb.28 (Korea Bizwire) – With price wars between large discount stores and social commerce sites heating up, baby formula is in the limelight. As formula is being purchased more frequently through online sites, the share of offline sales is rapidly falling. This is the main reason why large discount stores such as Emart and [...]
SEOUL,Feb.3 (Korea Bizwire) –Coupang, a social commerce business, will be able continue its ‘Rocket Delivery’ service. The Seoul District Court dismissed a petition for a provisional injunction filed by 11 logistics companies including CJ Korea Express against Forward Ventures, which is run by Coupang. The logistics companies filed for a provisional ban against Forward Ventures [...]
SEOUL, Nov. 4 (Korea Bizwire) – E-commerce giant Coupang has announced that it will be investing 1.5 trillion won by 2017 to hire 40,000 delivery people called ‘Coupang Men’, and increase its number of logistics centers from 14 to 21. This is a significantly larger-scale investment than the 1 billion dollar infusion attracted from Softbank, [...]