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. [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s e-commerce sector saw a challenging 2024, with economic pressures leading to reduced consumer spending across platforms. Despite these headwinds and competition from Chinese e-commerce players like AliExpress and Temu, Coupang and SSG.com maintained strong customer loyalty, according to data released on January 26 by analytics firm IGAWorks. SSG.com [...]
SEOUL, Jan. 22 (Korea Bizwire) — Members of South Korea’s National Assembly sharply criticized Coupang Inc.’s founder Kim Bom-suk for his absence from a parliamentary hearing on January 21 focused on improving working conditions for the e-commerce giant’s delivery workers, particularly regarding late-night labor practices. The hearing, held by the Environment and Labor Committee, was attended [...]
SEOUL, Jan. 22 (Korea Bizwire) — Coupang, one of South Korea’s largest e-commerce companies, has admitted to maintaining an employment blacklist affecting over 16,000 individuals, following revelations by MBC in February 2024. This marks the first time the company has publicly acknowledged the controversial list, which allegedly barred reemployment of workers and even included journalists critical [...]
SEOUL, Jan. 15, 2025 — South Korea’s Ministry of Employment and Labor has ruled that Coupang delivery drivers, known as Quick Flexers, are not classified as employees under the Labor Standards Act, effectively ending allegations of illegal subcontracting against the e-commerce giant. The decision follows an investigation prompted by the death of delivery driver Jeong [...]
SEOUL, Jan. 7 (Korea Bizwire) — Shinsegae Group and China’s Alibaba Group have joined forces to form a strategic e-commerce alliance, a move that has drawn close attention from Coupang, South Korea’s market leader in online retail. The partnership, announced on January 6, could significantly alter the competitive dynamics of the e-commerce sector. Coupang’s senior [...]
SEOUL, Dec. 13 (Korea Bizwire) – Coupang announced on December 12 the launch of a “Safety Mark” system to help customers identify official communications from the company and prevent phishing scams. The Safety Mark will appear on text messages sent from Coupang’s official customer service number (1577-7011) and includes the company’s logo, a shield symbol [...]
SEOUL, Dec. 2 (Korea Bizwire) – South Korea’s Fair Trade Commission (FTC) is taking action against Coupang, Naver, and Market Kurly for allegedly hindering consumers from canceling their paid memberships. Coupang, in particular, faces additional scrutiny for using deceptive “dark patterns” in its membership pricing and cancellation processes. Coupang’s “Wow Membership” program allegedly made mid-term cancellations [...]