SEOUL, Sept. 13 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. on Tuesday denied rumors that it is selling its online food delivery platform Coupang Eats. “The rumors about the sale of Coupang Eats are completely groundless,” the New York-listed e-commerce behemoth said in a statement, adding it has not had any related discussions [...]
SEOUL, Aug. 11 (Korea Bizwire) — E-commerce giant Coupang Inc. said Thursday its second-quarter operating loss narrowed sharply from a year earlier on resilient sales. Operating loss stood at US$67.14 million in the April-June period, down 87 percent from a year earlier, the New York-listed e-commerce behemoth said in a regulatory filing. It represents the [...]
SEOUL, Aug. 9 (Korea Bizwire) — The installment financing industry is up for fierce competition with e-commerce giant Coupang Inc. joining the arena. The Financial Supervisory Service said Monday that Coupang Pay’s subsidiary Coupang Financial has newly registered as an installment financing company last week. Coupang Pay owns a 100-percent share of Coupang Financial. Coupang [...]
SEOUL, May 12 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. said Thursday its first-quarter operating loss narrowed sharply from a year earlier thanks to record sales. Its operating loss stood at US$205.7 million in the January-March period, down 23 percent from a year earlier, the New York-listed e-commerce behemoth said in a regulatory [...]
SEOUL, March 23 (Korea Bizwire) – South Korea’s antitrust regulator will investigate e-commerce giant Coupang Inc., suspected of mobilizing employees to post false reviews on private brand (PB) products for more exposure and to attract customers, industry sources said Tuesday. Civic groups had filed reports with the Fair Trade Commission (FTC) about the suspected act [...]
SEOUL, March 16 (Korea Bizwire) — A number of civic groups have accused e-commerce giant Coupang Inc. of mobilizing its employees to write false reviews for the company’s private brand products. Six civic groups, including People’s Solidarity for Participatory Democracy, held a press conference on Tuesday, announcing that they would file a report with the [...]
SEOUL, March 8 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. has established an office in the Chinese border city of Yanji and hired a large number of local employees as part of efforts to diversify overseas direct purchase services through the expansion of its presence in China. According to industry sources, about 230 [...]
SEOUL, March 3 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. said Thursday that its annual sales revenue and operating loss shot up to an all-time record last year due to increased costs from expansion and the pandemic. Coupang’s consolidated sales in 2021 jumped 54 percent on-year to US$18.4 billion, the largest volume since [...]
SEOUL, Jan. 4 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. has been focusing on an offensive strategy to bulk up while tolerating losses, but recently began raising service charges as part of efforts to make a strategic shift. The company raised monthly subscription fees for Wow membership from 2,900 won (US$2.43) to 4,990 [...]
SEOUL, Dec. 21 (Korea Bizwire) — Employee theft is becoming a major issue at e-commerce giant Coupang Inc. A former Coupang employee surnamed Jang was sentenced to three years and 10 months in prison on charges of theft and fraud, and is preparing an appeal, legal sources said Monday. Jang was accused of stealing goods [...]