Coupang Nearly Doubles Sales Last Year... Kim Beom-seok's Compensation Reaches 15.8 Billion Won

Coupang to Pursue Listing on New York Stock Exchange in the US

[Asia Economy Reporter Kim Cheol-hyun] As Coupang pursues listing on the New York Stock Exchange in the United States, its management status has also been disclosed. Coupang recorded sales of 13.25 trillion won, nearly double compared to the previous year, during the last year marked by the COVID-19 pandemic. Chairman Kim Beom-seok received a compensation of 15.8 billion won.

According to the listing application documents submitted by Coupang to the U.S. Securities and Exchange Commission on the 13th, Coupang's sales last year were $11.97 billion (approximately 13.25 trillion won). This represents about a 91% increase from approximately 7.1 trillion won in 2019. The scale of losses also decreased. Last year, losses were $474.9 million (about 525.7 billion won), down about 150 billion won from 720.5 billion won the previous year.

Coupang's user numbers were also disclosed. The number of active customers who have purchased products from Coupang at least once was 14.8 million as of the fourth quarter of last year, a 25.9% increase from 11.8 million in the fourth quarter of 2019. Among them, paid members of Coupang's subscription service "Rocket Wow," who pay 2,900 won monthly, accounted for 32%. Net sales per active customer were approximately $256 as of the fourth quarter of last year, a 59.0% increase compared to the fourth quarter of 2019. The purchase frequency of Rocket Wow members was more than four times that of regular members. In particular, Coupang customers have been increasing their purchase amounts over time. For example, customers who made their first purchase in 2016 spent 1.37 times their first-year purchase amount in 2017. Subsequently, they spent 1.8 times in 2018, 2.7 times in 2019, and 3.5 times last year.

Despite accumulated losses amounting to trillions of won, Coupang announced plans to continue large-scale investments for growth in the near term. It also stated that "the business can be expanded to other countries," leaving open the possibility of overseas expansion.

Meanwhile, Coupang founder and Chairman of the Board Kim Beom-seok received a total compensation of $14.34 million (approximately 15.8 billion won), including an annual salary of about $886,000 (approximately 980 million won) and stock-based bonuses last year. Chief Technology Officer Tuan Pham received a total compensation of about $27.64 million (approximately 30.5 billion won).

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