A Kurly delivery truck operates in South Korea. The company has drawn fresh investment from internet giant Naver. Photo by Kurly
SEOUL, May 7 (UPI) — South Korean online retailer Kurly has attracted fresh investment, while its bigger rival, Coupang Korea, struggles to grapple with the aftermath of a massive data breach disclosed late last year.
Kurly said in a regulatory filing Wednesday that it would issue some 500,000 new shares worth $23 million, all of which will be acquired by the country’s internet giant, Naver.
Through the deal, which valued Kurly at around $1.9 billion, Naver will increase its stake in the e-commerce platform to 6.2% from 5.1%.
The Seoul-based company, which was founded in 2015, said that it would spend the funds to strengthen its long-term growth potential by expanding logistics infrastructure and pursuing new business initiatives.
“Starting with this investment, both companies plan to deepen their strategic partnership, focusing on generating tangible synergies and driving accelerated growth,” Kurly CEO Sophie Kim said in a statement.
By contrast, U.S.-listed Coupang Inc. has swung to a loss for the first time in seven quarters.
During the first three months of 2026, the e-commerce giant posted sales of $8.5 billion, up 8% from a year ago, but recorded an operating loss of $242 million compared with an operating income of $154 million a year ago.
Coupang Korea, which generates the vast majority of Coupang Inc.’s revenue, has faced criticism after unveiling a data leak last November involving tens of millions of its customers in South Korea.
To compensate customers following the accident, Coupang provided free vouchers worth more than $1 billion in early 2026, which has negatively affected the company’s earnings.
Coupang was trading at $17.25 a share at midday Thursday on the New York Stock Exchange, down about 50% from its 12-month high. The company lost 15 cents a share in the first quarter of 2026.
Kurly is not publicly listed.