SEOUL, July 6 (Korea Bizwire) — After stoking a series of controversies, including a fire at a logistics center and a poor working conditions, e-commerce giant Coupang Inc. is now facing a government investigation into alleged unfair practices. The Korea Fair Trade Commission (KFTC) recently noted that Coupang might have violated the Fair Trade Law [...]
SEOUL, June 22 (Korea Bizwire) — E-commerce giant Coupang Inc. faces arguably the worst crisis since its initial public offering in March over a recent fire at one of its warehouses that killed a firefighter. Coupang is under mounting public outcry over the death of the 52-year-old male firefighter, who was found dead last weekend [...]
SEOUL, June 22 (Korea Bizwire) — E-commerce giant Coupang Inc. is under fire for its poor working environment and its founder following a massive fire at one of the company’s warehouses. Some netizens are leading a boycott of Coupang by canceling their membership and deleting the Coupang app. ‘Leaving Coupang’ has become a real-time trend [...]
ICHEON, June 19 (Korea Bizwire) — A firefighter who was trapped in a fire that tore through a Coupang Inc. warehouse was found dead by rescue workers Saturday, officials said. Kim Dong-shik, 52, was found in the second-floor basement of the e-commerce giant’s four-story building in Icheon, 80 kilometers southeast of Seoul, shortly after rescue [...]
SEOUL, June 17 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. said Thursday it will invest 220 billion won (US$195 million) to launch a new distribution center in the southeastern port city of Busan to spur its global capacities. Coupang said it will set up a new distribution center on a 170,000-square-meter tract of [...]
SEOUL, May 21 (Korea Bizwire) – A delivery worker employed by South Korean e-commerce giant Coupang Inc. has claimed that he was penalized for releasing videos of a poor working environment to the public. Cheon Min-ho, who has been working for the company for almost a year, appeared on an MBC radio talk show on [...]
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 [...]