Coupang, which prioritizes rocket delivery, surpasses 40 trillion won in sales... increasing by 10 trillion won in one year

Coupang surpassed 40 trillion won in sales for the first time in 2024. It overtook traditional retail giants such as Emart and Lotte Shopping, becoming the first in the domestic retail industry to exceed 40 trillion won in sales.

Coupang announced in its earnings report filed with the U.S. Securities and Exchange Commission (SEC) on the 26th (local time) that its sales last year reached 41.29 trillion won (3.0268 billion dollars), a 29% increase compared to the previous year. After surpassing the 30 trillion won mark for the first time in 2023 (31.8298 trillion won), it entered the '40 trillion club' in just one year. This figure exceeds that of Emart (29 trillion won) and Lotte Shopping (14 trillion won). During the same period, operating profit was 602.3 billion won (436 million dollars), a 2.4% decrease from the previous year's 617.4 billion won. Although the profit slightly declined, it recorded a profit for the second consecutive year.

Specifically, sales in the product commerce sector, including Rocket Delivery and Rocket Fresh, reached 36.4093 trillion won (26.69 billion USD), representing an 18% growth compared to the previous year. As of the end of last year, the number of active customers who purchased products from Coupang more than once per quarter was 22.8 million, a 10% increase from 20.8 million the previous year. Additionally, the revenue from growth businesses such as the Taiwan Rocket Delivery operation, Farfetch, Coupang Eats, and Coupang Play reached 48.808 trillion won (3.56 billion USD), four times the amount of the previous year's 10.299 billion won, setting a record high. Coupang acquired the world's largest luxury clothing platform, Farfetch, earlier last year.

Coupang's sales in the fourth quarter of last year (October to December) reached 11.1139 trillion won, a 28% increase compared to the same period the previous year. This is also the highest quarterly figure to date. Operating profit for the same period was 435.3 billion won, a 154% increase. The significant increase in operating profit is attributed to the receipt of 244.1 billion won in compensation for the Dungpyeong logistics center fire that occurred in 2021.

------------------------------------------------

Coupang has become the industry leader with sales exceeding 40 trillion won. That's incredible.

Our country's retail industry is well revitalized.

I hope they prevent Chinese platforms from dominating.