Coupang's Kim Beom-seok: "Creativity Creates Miracles... Continuing Innovation Investment"

[Asia Economy Reporter Yujin Cho] Kim Beom-seok, Chairman of Coupang's Board, expressed his ambition on the 11th (local time) to never stop innovating, saying that creativity has created miracles.

In an interview with CNBC ahead of Coupang's listing on the New York Stock Exchange (NYSE), Kim said, "It is said to be the largest foreign company IPO since Alibaba, which is proof of Korea's success story."

He added, "We have reached this point because we never lost sight of the long-term strategy to create true value for customers and shareholders," and commented, "This listing will provide the resources to continue that journey without change."

When asked about the use of funds raised through the listing, he replied, "We will continue to invest in innovations such as dawn delivery," and added, "We will keep investing in Korea's regional economies to create good jobs and continue investing in technology."

Regarding whether Coupang's 'Rocket Delivery' service is feasible in countries other than Korea, which has a high population density, he stated, "We have expanded it nationwide, including rural areas as well as densely populated regions."

On competition with other companies such as Amazon entering Korea, he said, "Korea is a large market worth $530 billion," and asserted, "Many excellent companies serve alongside us, but we are a unique company in terms of investment in technology and other aspects."

He emphasized, "In 1960, Korea was one of the poorest countries in the world, with a per capita GDP of only $79, but today it has become one of the world's top 10 economies."

He continued, "The creativity of Koreans created the 'Miracle on the Han River.' I am very excited to be a small part of this incredible story."

On the morning of the same day, Kim attended an event held at the NYSE to celebrate Coupang's listing and rang the opening bell. The event was attended by Coupang CEOs Kang Han-seung and Park Dae-jun, as well as Coupang CFO Gaurav Anand.

The company stated that Coupang customers, delivery workers, and open market sellers also participated in the opening bell event via online screens.

A banner celebrating Coupang's listing and the Taegeukgi flag were also displayed prominently at the front of the New York Stock Exchange.

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