[단독]Kang Seung, CEO of Coupang “Gives free stock to contracted Kuchin”

[이데일리 유현욱 기자] On the day of the national holiday, New Year’s Day, Coupang officially announced the promotion of listing on the U.S. stock market, and announced a surprise announcement to distribute stocks worth 100 billion won to front-line employees. The key point is that as of March 5th, Coupang’s friends, regular employees of distribution centers, and level 1-3 employees of Coupang and its subsidiaries are eligible for shares worth about 2 million won for both regular and contractors (RSU, subject to transfer restrictions. Stock).

Kang Seung (Robert HS KangPhoto) Coupang, the co-president of management and management, sent an in-house e-mail to the employees in the morning of the morning and made this statement. “The news of Coupang’s promotion of listing on the New York Stock Exchange was announced during the Lunar New Year holidays,” said Kang. “The company expresses gratitude for the efforts of field staff and provides free stocks of Coupang to be listed in the hopes of opening a strong future together. I want to give it to me.”

He said, “I know that the decision to give free stock to on-site employees is the first in Korea. This is an extension of our efforts to provide the best environment in the industry to on-site employees.” “Through this one-time stock grant program, we will receive approximately 2 million won worth of stock (RSU, stocks with limited transfer conditions).” “The target is Coupang, a friend of Coupang and a subsidiary who is working at Coupang and its subsidiaries as of March 5, 2021, They are full-time employees of the distribution center and employees of level 1 to 3.” Considering that the total amount is 100 billion won, it is a simple calculation that benefits about 50,000 people.

Breaking the conventional wisdom that it would be a money feast for some high-ranking college graduates, he made it clear that it is “for both regular and contract workers,” and that “employees who have been given stocks in the past are not eligible.” If it remains like this, it is highly likely that new Kuchins who have been handling the increased delivery volume since the spread of Corona 19 will be the biggest beneficiaries. He said that the exact number of shares granted by each individual will be re-announced individually to the subject.

Representative Kang explained that the concept of RSU, which is not familiar to’Jurini’ (shares + children), was “receiving and trading Class A ordinary stocks only after receiving stocks and staying for the period of belonging.” In this method, 50% of stocks are attributable to one year’s tenure from the grant date, and the remaining 50% will be attributable to two years of employment. In other words, you must work for at least one year to receive half, and you must work for two or more years to receive the whole. It is interpreted as the purpose of not only creating jobs but also trying to maintain jobs.

After stocks are attributable, they can trade them in accordance with Coupang’s insider trading policy. There is no extra money the employees have to pay to receive the stock. However, related taxes are borne by the person himself.

Coupang plans to operate a dedicated call center for counseling on the stock grant program from 9:30 am on the 16th.

Earlier, on the 12th (local time), Coupang submitted a report to the US Securities and Exchange Commission (SEC) for listing of common stock. Coupang LLC, the holding company of Coupang, changed its name to Coupang Inc. for this listing. The stock market code in New York was set to be’CPNG’. Although the number of shares and the range of the offering price have not been determined yet, Coupang aims to raise $1 billion (about 1.1 trillion won) from the listing.