Coupang to Distribute Stocks Worth 100 Billion Won to Coupangmen and Others

[Image source=Yonhap News]

[Asia Economy Reporter Yuri Kim] Online shopping mall Coupang has officially announced its listing on the U.S. stock market and revealed plans to distribute stocks worth approximately 100 billion KRW to its delivery personnel known as 'Coupangmen' and other employees.

On the 12th (local time), Coupang stated in documents submitted to the U.S. Securities and Exchange Commission (SEC), "To celebrate an important milestone in the company's history (the U.S. stock market listing) and to recognize the dedication of frontline workers and non-manager employees during the COVID-19 pandemic, we will provide stocks worth up to 100 billion KRW." Coupang emphasized that these employees are "the foundation of the company and the reason for its success."

As of the end of last year, Coupang employs over 50,000 people, playing a significant role in providing new economic opportunities to the Korean public. In particular, it hired 25,000 people last year alone and added that its goal is to hire 50,000 new employees by 2025.

On this day, Coupang submitted a registration statement for listing on the New York Stock Exchange (NYSE). Although it was initially known to be pursuing a Nasdaq listing, it was revealed that Coupang has been aiming for an NYSE listing. Industry insiders expect Coupang's initial public offering (IPO) to take place in March.

This content was produced with the assistance of AI translation services.