SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s e-commerce sector is undergoing a sharp consolidation, with a winner-takes-all structure emerging as Coupang and Naver entrench their dominance. Smaller players are collapsing or being forced into alliances, while global challengers from China accelerate their advance. The collapse of mid-tier platforms Tmon and Wemakeprice last year, which [...]
SEOUL, June 17 (Korea Bizwire) — Workers of e-commerce giant Coupang Inc. have launched a new integrated labor union to demand better wages and improved working conditions, the union said Tuesday. Until now, Coupang had two separate labor unions — one representing workers in its logistics affiliate, Coupang Fulfillment Service, and the other for employees [...]
SEOUL, May 26 (Korea Bizwire) – E-commerce giant Coupang said Monday it has transitioned from a co-representative leadership system to a sole representative system under Park Dae-joon as part of efforts to drive growth through artificial intelligence (AI)-based logistics innovation. The company, wholly owned by New York-listed Coupang Inc., had been led by two representative directors, Park and Kang Han-seung. Park has spearheaded the nationwide expansion of Coupang’s renowned Rocket Delivery service and led the [...]
SEOUL, May 6 (Korea Bizwire) — South Korean e-commerce giant Coupang, Inc. said Tuesday it has launched an English interface for its mobile application to better cater to its foreign customers shopping online. The English interface will enable users to view functions central to the app, including product search, product descriptions, order information and payment, [...]
SEOUL, April 27 (Korea Bizwire) — Coupang announced on April 27 that it has established a new recycling system to repurpose expired “Rocket Fresh Bags,” using their plastic components to manufacture cargo pallets. Introduced in March 2020, Rocket Fresh Bags are reusable insulated bags designed to deliver fresh food while minimizing environmental impact. Made from high-strength [...]
SEOUL, March 20 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. has been named the world’s second most innovative retail company by the U.S. business magazine Fast Company, the company announced Wednesday. The annual Fast Company list highlights the top 10 most innovative retail companies and features 609 global businesses across 58 categories, including [...]
SEOUL, March 17 (Korea Bizwire) — Naver has officially entered South Korea’s e-commerce arena with a dedicated shopping app, sparking industry speculation about whether it can effectively challenge Coupang’s market leadership. The tech giant unveiled its Naver Plus Store app on March 12, marking its formal transition into an open market platform operator. While industry experts acknowledge [...]
SEOUL, Feb. 27 (Korea Bizwire) — Despite a sluggish consumer economy, Coupang Inc. achieved a major milestone in 2024, surpassing 41 trillion won (approximately $29 billion) in annual revenue. The e-commerce giant, founded in 2010 with just 3 billion won ($2.1 million) in capital, has cemented its position as South Korea’s dominant online retailer. Coupang’s success [...]
SEOUL, Feb. 26 (Korea Bizwire) — South Korean e-commerce giant Coupang, Inc. said Wednesday its sales exceeded 40 trillion won (US$27.9 billion) for the first time last year on robust sales in the “new growth” segment. Sales jumped 29 percent to a record 41.29 trillion won in 2024 from 31.82 trillion won a year earlier, [...]
SEOUL, Feb. 20 (Korea Bizwire) — E-commerce giant Coupang and its affiliates have reached a landmark agreement with small business owners and labor organizations, committing to improved working conditions and financial support measures. The agreement, signed on February 19, includes the abolition of a controversial policy that had been linked to overwork among delivery drivers. [...]