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| Bucheon Coupang Distribution Center / News1 © News1 Reporter Jeong Jin-wook |
Coupang founder Kim Bum-seok (chairman of the board of directors) announced that it plans to pay 100 billion won worth of treasury stock to’Coupang Man’ (Coupang friend) as a bonus along with listing on the New York Stock Exchange. It also announced a plan to create 50,000 jobs by 2025.
In a listing application filed with the US Securities and Exchange Commission (SEC) on the 12th (local time), Chairman Kim said, “We plan to approve a maximum total of 900,000 USD or 100 billion in stock compensation to front line workers and non-manager level employees. “I said.
“Our employees and frontline workers (Coupangmen) are the backbone of Coupang and the reason for its success.” “Congratulations on the company’s landmark milestone, and the fact that frontline workers struggled to serve our customers amid the COVID-19 outbreak. I took into consideration,” he explained.
Along with this, Coupang announced a plan to create a total of 50,000 jobs by 2025 and invest trillions of won in social infrastructure (infrastructure) and job creation for development outside of Seoul.
Coupang employed about 25,000 people in 2020 alone, and as of the end of last year, Coupang directly employed 50,000 people, making it the largest job creation company in Korea.
The company said, “We have been able to provide services to customers and businesses that rely on Coupang every day despite the Corona 19 crisis. We will continue to contribute to the domestic local economy by investing in good jobs to contribute to the growth of the Korean economy in the future.” Said.
It also revealed a plan to support small businessmen who are experiencing a difficult time with Corona 19. Coupang plans to continue △solving early transactions, △securing loans, △coupons, △promotional programs such as advertisements, etc. △additional financial support △marketing services.
Meanwhile, on the 12th, Coupang submitted a report to the U.S. Securities and Exchange Commission to list Class A common stocks, and started listing on the New York Stock Exchange (NYSE) in earnest. If there are no special variables, the New York Stock Market debut in March, a month later, is influential.
Coupang’s sales rose from $6.3 billion in 2019 to $12 billion in 2020. It is predicted that the market value will reach 50 billion dollars (55.35 trillion won) after listing.