Kang Han-seung, Coupang CEO: "Until Customers Say Wow"… Town Hall Meeting with Employees

Sharing Q3 Results with Employees
Established 8 Million Square Meters of Fulfillment and Distribution Infrastructure Through Q3 This Year

Kang Han-seung, CEO of Coupang

[Asia Economy Reporter Kim Cheol-hyun] Coupang announced on the 18th that it held an employee town hall meeting to share key achievements for the third quarter and strategic tasks for the second half of the year. This online town hall brought together Coupang’s Chief Operating Officer Kang Han-seung and Chief Technology Officer (CTO) Tuan Pham with employees working around the world to discuss Coupang’s mission and direction.

CEO Kang said, "Coupang is creating distribution networks nationwide and generating jobs with the funds raised through its listing on the New York Stock Exchange," adding, "The investment amount spent on infrastructure establishment from 2020 to now has already exceeded the amount invested before 2020 since Coupang’s founding." He explained that this investment enabled differentiated customer experiences such as Coupang’s dawn delivery and Coupang Eats services, which in turn improved customer loyalty and intimacy.

CEO Kang added that Coupang’s investments have also greatly contributed to the coexistence with small and medium-sized enterprises (SMEs). He said, "More than 80% of Coupang’s partners are small and medium-sized merchants," and "The number of SMEs operating businesses with Coupang has doubled compared to the previous year, and the sales of SMEs listed on Coupang have also increased by more than 50% year-on-year."

He also mentioned investment in manpower and job creation. CEO Kang explained, "In just nine months this year, Coupang has created 10,000 jobs. We also directly employ delivery workers and logistics center staff and boast an industry-leading work environment by introducing Coupang Care, the first health management program for delivery workers in the industry."

CTO Tuan Pham spoke at the town hall mainly sharing the third-quarter business performance. Coupang’s third-quarter sales grew 48% year-on-year, surpassing $4.6 billion. Regarding this, CTO Pham said, "Coupang has recorded an average annual growth rate of 70% over the past three years, and the number of active customers has increased for 15 consecutive quarters," adding, "Despite these achievements, Coupang is still in the early stages of growth, and greater opportunities lie ahead with the growth of the Korean e-commerce market."

CTO Pham said, "Sincere consideration for customers has made Coupang what it is today," and "We will continue to prioritize customer delight and long-term growth as our top priorities, even if it means enduring short-term pain."

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