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Jeff Bezos has no interest in bringing Amazon to the 51 million people in South Korea, and Bon Kim is the reason for that. Kim is the CEO of Coupang, the fastest growing e-commerce site of all time in South Korea. The startup, founded in 2010, grossed nearly…
“We should catch up to Coupang, accepting the risk of financial loss,” said Chung Yong-Jin, vice chairman of Shinsegae Group. “Coupang is taking away our customers in their 20s and 30s. Why are we just sitting on our hands and leisurely watching the exodus?”…
Korean online bookstores are pushing back their deadlines for same-day delivery, and jumping into the current delivery war that started when Coupang launched its ‘Rocket Delivery’ service. But while the bookstores’ new service is expected to attract more…
Coupang, the leading South Korean eCommerce operator, is expected to reveal mounting operating losses for 2015 as big investments in logistics capacity weighed on the financials of the startup company, industry sources said Thursday. Coupang is expected to…
Shinsegae Group says it will invest 4.1 trillion won ($3.4 billion) this year and hire 14,400 new staff to expand its retail business and revitalise the “sagging domestic economy”. “The overall retail sector has been struggling to deal with continued sluggish…
South Korean eCommerce giant Coupang will invest 1.5 trillion won (US$1.3 billion) by 2017 to hire 40,000 delivery people called ‘Coupang Men’, and increase its number of logistics centers from 14 to 21. This is a significantly larger-scale investment than…
In a region where masses of users are newly armed with smartphones and more spending power, Southeast Asia is a new gold mine for tech enterprises. China’s quickly saturating market for all things tech has pushed Asia-bound start-ups to seek new territory,…
SoftBank Corp. and Coupang have announced a definitive agreement under which a subsidiary of SoftBank will invest $1 billion in Coupang, the largest and fastest growing standalone ecommerce player in Korea. The investment is expected to close at the beginning…
