Chairman Kim Beom-seok Sells 1.2 Million Coupang Shares Worth 47.5 Billion KRW

[Image source=Yonhap News]

[Asia Economy Reporter Song Seung-yoon] It has been confirmed that Kim Beom-seok, Chairman of Coupang's Board of Directors, sold 1.2 million shares of Coupang stock.

According to the U.S. Securities and Exchange Commission disclosure site on the 16th, Coupang announced that on the 15th (local time), Chairman Kim sold 1.2 million Class A shares. The selling price was $35 per share, totaling $42 million (approximately 47.5 billion KRW).

Chairman Kim had been granted 100% of Class B common shares, which carry differential voting rights 29 times that of regular shares, without any tradable Class A common stock holdings.

For this sale, 1.2 million Class B shares were converted into Class A shares, resulting in Chairman Kim's voting rights decreasing from 76.7% to approximately 76.2%.

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