Coupang: a Major Online Shopping Company in South Korea, Announced its Financial Results for the 3rd Quarter. Its deficit has been continuing due to a large investment
On November 12, "Coupang," a Korea's online shopping major company announced its financial results for the 3rd quarter of 2021. Sales increased 48% from the same period of the previous year to 4.6447 billion dollars (approximately 533.3 billion yen), and net loss was 315.1 million dollars (approximately 35.9 billion yen). In addition, the number of active users has continued to increase to 16.8 million, up 20% from the same period of the previous year. The cause of the deficit is investment in new business streaming video services and logistics facilities to provide faster delivery services. Specifically, from the beginning of 2021 to the third quarter, Coupang has built a new distribution infrastructure of 740 thousand square meters, and the fulfillment center, which is responsible for the ordering and delivery of Coupang's own fresh food "Rocket Fresh," has been doubled.
Sources: The Company's Financial Results Announcement Material "Current Report Filing" (November 12, 2021)
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