Coupang's Q2 Revenue Hits Record 5 Trillion Won... Deficit Also Rises to 600 Billion Won

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] Coupang achieved a record-breaking quarterly revenue exceeding 5 trillion won in the second quarter of this year, but operating losses reached 600 billion won due to the impact of a logistics center fire.

Coupang, listed on the New York Stock Exchange, announced on the 12th that its second-quarter revenue this year was $4.478 billion (approximately 5.1811 trillion won), a 71% increase compared to the same period last year. This is the first time Coupang's quarterly revenue has exceeded 5 trillion won.

However, operating losses increased to $514.93 million (approximately 595.7 billion won), and net losses rose to $518.6 million (approximately 600 billion won).

This includes costs related to the fire at the Deokpyeong logistics center in Gyeonggi Province in June, amounting to $295 million (approximately 341.3 billion won). These costs consist of $158 million for product losses and $120 million for infrastructure losses. However, this is a one-time loss that will be compensated by future insurance claims.

Direct investments in fresh food and Coupang Eats in the second quarter amounted to $120 million.

The number of active customers who made at least one purchase in the second quarter increased by 26% to 17.022 million. Active customers increased by 1 million compared to the first quarter. The average purchase amount per person (revenue) was $263 (approximately 304,000 won), a 36% increase.

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