SEOUL, Aug. 15 (Korea Bizwire) — The Korea Living Logistics Courier Service Association (KLLCSA), a consortium of courier service providers, has appealed to e-commerce retailer Coupang Inc.’s courier subsidiary, Coupang Logistics Service (CLS), urging its participation in the “No Parcel Day” movement. On August 14, major courier companies in South Korea will refrain from deliveries [...]
SEOUL, Aug. 9 (Korea Bizwire) — Coupang Inc. said Wednesday it swung to a net profit in the second quarter from a year earlier on improved profitability of its flagship product commerce business. South Korea’s top e-commerce retailer shifted to a net profit of US$145.2 million in the April-June period from a net loss of [...]
SEOUL, Aug. 7 (Korea Bizwire) — Kurly Corp. and Coupang Inc. have entered South Korea’s online beauty market, intensifying the existing fierce competition. Kurly, the operator behind the e-grocery platform Market Kurly, introduced an exclusive beauty platform named Beauty Kurly in November of the previous year. Since then, it has been expanding its market share [...]
SEOUL, July 3 (Korea Bizwire) – South Korea’s top e-commerce retailer Coupang Inc. said Monday it has launched a new service allowing customers to buy luxury beauty brands’ products at its platform. At Rocket Luxury, customers will be able to purchase products of 16 high-end beauty brands from home and abroad, including Estee Lauder, MAC, [...]
SEOUL, June 21 (Korea Bizwire) — In South Korea’s e-commerce market, a two-way race is currently underway between Coupang Inc. and Naver Corp. According to a survey conducted by local pollster Open Survey, which involved 2,500 male and female consumers aged between 20 and 59, Coupang was ranked as the most frequently used online shopping [...]
SEOUL, June 14 (Korea Bizwire) — South Korean retail giant Shinsegae Group has formed partnerships with major retailers to reduce the influence of e-commerce operator Coupang Inc. Gmarket, the group’s online shopping subsidiary, said Tuesday it will carry out a special promotion in collaboration with Auction, CJ Cheiljedang Corp., LG Household & Health Care Ltd., [...]
SEOUL, May 16 (Korea Bizwire) — South Korean cosmetics and household goods maker LG Household & Health Care Ltd. and food manufacturer CJ Cheiljedang Corp. have formed new partnerships with other online shopping malls, following their decision to withdraw their products from the e-commerce giant Coupang Inc.’s platform due to pricing conflicts. Gmarket said Monday [...]
SEOUL, May 10 (Korea Bizwire) — Coupang Inc. said Wednesday it racked up a profit in the first quarter and posted a record-high quarterly net revenue and gross profit, thanks to the company’s operational improvement and increased sales. The net profit of South Korea’s top e-commerce retailer reached US$90.9 million in the first quarter, compared [...]
SEOUL, April 5 (Korea Bizwire) — A handful of South Korean manufacturers are seeing their sales rise through Naver Corp.’s shopping platform after splitting with e-commerce giant Coupang Inc. due to feuds over prices. Cosmetics and household goods maker LG Household & Health Care Ltd. announced that the average sales of its premium detergent brand [...]
SEOUL, March 1 (Korea Bizwire) — Coupang Inc. said Wednesday it posted a profit for the second consecutive quarter in the final three months of last year on operational improvements. The South Korean e-commerce giant’s net income came to US$102.1 million in the October-December period last year, compared with a net loss of $405 million [...]