Coupang

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.

April 24 (Asia Today) — South Korea’s national security adviser Wi Sung-lac said Thursday that the Coupang regulatory dispute is affecting security consultations between South Korea and the United States, while stressing that Seoul is seeking to keep the corporate matter separate from alliance negotiations.

Wi made the remarks during a briefing at a local press center in Hanoi, where he accompanied President Lee Jae-myung on a state visit to Vietnam.

“The Coupang issue is a corporate issue,” Wi said. “But it is true that the Coupang issue is affecting security consultations between South Korea and the United States.”

His comments came after 54 Republican members of the U.S. House of Representatives sent a letter to South Korean Ambassador to the United States Kang Kyung-wha, urging Seoul to end what they called discriminatory regulatory actions against U.S. companies, including Coupang.

Wi said South Korea has been discussing the matter with Washington and has argued that linking the Coupang issue to security talks is not desirable.

“Our position is that the Coupang matter should proceed according to legal procedures, while security negotiations should move forward as security negotiations,” Wi said.

He said delays in security consultations are “also true” and added that such delays do not help the broader alliance.

“We believe they should not be delayed and should resume promptly,” Wi said.

Wi said the security negotiations have their own structure and balance, and Seoul believes they can proceed separately from the corporate dispute.

He also said Seoul has reviewed the letter from U.S. lawmakers and has contacted relevant members of Congress to explain the government’s position.

“We are making efforts to provide explanations and understanding,” Wi said. “There were letters before this as well, and we explained those matters too.”

South Korea’s foreign ministry said Thursday that investigations and measures involving Coupang are being conducted under domestic law and due process, without discrimination based on nationality.

Wi said Seoul will continue efforts to explain its position but acknowledged that U.S. lawmakers may express concerns about American companies.

“Whether that issue is connected to security consultations is another matter,” Wi said. “We are trying to respond to the two issues separately.”

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260424010007786

E-commerce firm Coupang Inc. on Friday denied allegations that it lobbied U.S. government officials to pressure the South Korean government following a data leak controversy that emerged in November.

The company also rejected claims that its lobbying activities involved security-related issues, calling such assertions unfounded.

Citing disclosures under the U.S. Lobbying Disclosure Act (LDA), Coupang said its lobbying efforts focused on promoting economic cooperation between Seoul and Washington and expanding professional visa opportunities for South Koreans seeking employment in the United States.

The filings show the company also engaged with U.S. authorities on plans to expand investment and commercial activity in South Korea, Taiwan and Japan, without addressing security matters, Coupang said in a text message.

Coupang said it has prioritized communication on artificial intelligence (AI) innovation, investment, job creation and cross-border commerce involving the U.S. and other markets, including South Korea.

The company said it spent 1.6 billion won (US$1.09 million) on lobbying in the January-March period.

“Lobbying activities by both U.S. and South Korean companies are conducted within legal frameworks,” Coupang said, adding that major U.S. firms typically spend three to four times more than it does.

Copyright (c) Yonhap News Agency prohibits its content from being redistributed or reprinted without consent, and forbids the content from being learned and used by artificial intelligence systems.

March 20 (Asia Today) — Coupang interim CEO Harold Rogers joined an overnight to dawn delivery shift in Seongnam, south of Seoul, after accepting a lawmaker’s request at a National Assembly hearing to experience the job firsthand. Rogers worked from 8:30 p.m. Wednesday to 6:30 a.m. Thursday, taking part in the full process from loading to delivery, according to Coupang and local media reports.

The overnight shift followed a proposal made by Democratic Party lawmaker Yeom Tae-young during a parliamentary hearing in December, which Rogers agreed to at the time. Coupang said the experience was intended to deepen management’s understanding of field operations and strengthen trust by following through on that commitment.

Rogers and Yeom began at Coupang Logistics’ delivery camp in Yatap, where they completed safety training and helped load packages. They then rode with a directly employed Coupang delivery driver, known as a “Coupang Friend,” and delivered orders to apartments, villas and detached homes across Jungwon-gu.

Coupang said it would use the experience to accelerate workplace improvements and strengthen safety management by reflecting feedback from the field. Rogers said he was proud of all Coupang workers, including delivery staff, and pledged to continue building what he described as safe and advanced working conditions.

Separately, Coupang Fulfillment Services said it will begin holding job fairs Monday in Suwon, Daegu and other locations to recruit logistics workers as Rocket Fresh expands. The company said the events will use a one-stop hiring format covering consultation through interviews.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260320010006133