"Coupang Sees 1,330 Employees Resign in February... Viewed as 'Forest of Innovation'"

Interview with Hong Kyung-pyo, CEO of Mark & Company
Service Providing Information on Over 2,400 Startups
"We Will Foster a Healthy Startup Ecosystem"

# Coupang, the hottest e-commerce company listed on the US stock market. As of February, the total number of employees at Coupang was 23,068. Compared to February last year (9,475 employees), this number has more than doubled in just one year. However, the turnover rate is also high. Recently, about half of the new hires leave each month. In February, 2,752 people joined Coupang, while 1,330 left.

The database platform "Innovation Forest (InnoForest)," which provides the latest indicators related to about 2,400 domestic startups and venture companies at a glance, has been in pilot operation since last month. By simply searching for a company name, users can access various information such as sales, investment attraction amounts, employment status, and user numbers. The data is automatically updated monthly, and sources are disclosed by category to enhance reliability.

Hong Kyung-pyo, CEO of Mark & Company, which developed Innovation Forest, said in an interview with Asia Economy on the 14th, "We gathered scattered company information in one place," adding, "We focused on collecting and refining dispersed information to provide trustworthy data." For example, employment indicators are obtained through the National Pension Service. They have also partnered with the Japanese market research firm App Ape.

Innovation Forest is utilized in various ways. Large corporations seeking open innovation, domestic and international investors looking for investment targets, and individuals venturing into unlisted stock trading can all make decisions based on various company information. Recently, they received a proposal from a university to use the platform for writing a thesis analyzing the growth factors of startups.

In the second half of this year, they plan to officially expand data disclosure to include patents held by startups, company reputation, organizational culture, monthly sales, and customer tendencies. Work on building an English-language site is also underway. CEO Hong said, "We want to let overseas investors know that 'there are so many great startups in Korea' to attract foreign investment and create opportunities for growth beyond the current level."

Hong Kyung-pyo, CEO of Mark & Company

CEO Hong’s ultimate goal is one: "to create a healthy startup ecosystem." He especially believes that synergy can be generated when large corporations and startups meet. His motivation for this belief dates back to 2013, long before founding Mark & Company. Hong was a founding member of 'DreamPlus,' an open innovation platform operated by Hanwha. For six years, he has been involved in open innovation activities where large corporations and startups collaborate to pursue new businesses.

Hong emphasized, "Large corporations that have already grown big find it difficult to quickly respond to changing industrial environments," adding, "It is time for large corporations and startups to prepare for the future together."

Hong also runs a project supporting re-entrepreneurship for women with career interruptions and challengers who have experienced startup failures. He connects and consults startups possessing technologies and services needed by large corporations such as E-Land Retail and Hankook Tire. He said, "I will walk focusing on the vision of creating a healthy startup ecosystem," adding, "I think it might be possible if people with similar thoughts gather."

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