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 [...]
SEOUL, Nov. 12 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. on Friday reported a sharp increase in net losses for the third quarter despite record-high sales revenue, due largely to operational costs and investment. Net losses over the July-September period came to US$323.97 million, up 87 percent from US$173 million a year before, [...]
SEOUL, Nov. 9 (Korea Bizwire) — The labor ministry has recognized that a workplace bullying incident occurred within e-commerce giant Coupang Inc. early this year, refuting a finding reached by the company through an internal probe, the company’s union said Tuesday. In response to a petition filed by a Coupang logistics center worker, the ministry’s [...]
SEOUL, Oct. 14 (Korea Bizwire) — E-commerce giant Coupang Inc. is facing accusations that it has been manipulating the working hours of employees. Rep. Yun Jun-byeong of the ruling Democratic Party claimed during government inspections of the Ministry of Employment and Labor and its sub-agencies on Tuesday that Coupang was using an application called ‘Coupunch’ [...]
SEOUL, Sept. 28 (Korea Bizwire) — E-commerce giant Coupang Inc. is facing suspicion that its customer data is being managed by a subsidiary in China and the risk of information leakage is high since the Chinese government can access such information. Independent lawmaker Yang Jung-suk claimed that Coupang has stored and managed customer and location [...]
SEOUL, Sept. 10 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it will closely look into unfair business activity by online platform giants here amid their increased market dominance, apparently targeting Naver Corp. and Kakao Corp. Concerns have mounted that powerful online platform operators have abused their dominant market status and engaged in unfair [...]
SEOUL, Aug. 19 (Korea Bizwire) — South Korea’s antitrust regulator said Thursday it has decided to fine e-commerce giant Coupang Inc. 3.3 billion won (US$2.8 million) for alleged unfair business practice. Between 2017 and 2020, Coupang demanded its suppliers raise sales prices of products trading at its rival online malls if one-off sales promotion events [...]
SEOUL, Aug. 12 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. said Thursday its sales hit a new high in the second quarter of the year, but it posted big losses due largely to a one-off cost. Sales stood at US$4.48 billion in the April-June period, up 71 percent from a year earlier, the [...]
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 [...]