Korea's Online Shopping Major Coupang Announced the Second Quarter Financial Results. The deficit expanded due to the effects of fire

​​​​​​​EC Weekly Picks 韓国旗

On August 11, Korea's online shopping major Coupang announced its financial results for the second quarter of 2021. Sales increased 71% from the same period of the previous year to 4.5 billion (about 496.2 billion yen) and net loss was $ 518.6 million dollars (about 57.3 billion yen). The causes of the deficit include a large amount of investment in domestic and overseas businesses, and the impact of damage caused by the fire at a major distribution center located in Icheon. In addition, the number of active users has continued to increase to 17 million, which went up 26% from the same period of the previous year. The company has been aggressively expanding globally in the second quarter. The main move is that, following the entry into Japan in June 2021, the delivery service was experimentally started in Taiwan in July.

Sources: The Company's Financial Results Announcement Material "Current report filing" (August 11, 2021)

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