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On the 13th, Coupang announced in a listing application filed with the US Securities and Exchange Commission (SEC) that it plans to compensate front-line and unmanaged employees with a maximum total amount of 100 billion won. The front-line and non-administrative employees here refer to the coupangman, the delivery driver, and the full-time non-administrator who works at the forefront of order processing centers and various offices.
As for the compensation background, he explained, “Our employees and frontline employees are the foundation of Coupang and one of the reasons for its success.” “In order to continue to provide incentives to our employees and frontline employees, we will give a wide range of opportunities to receive stock through the stock plan,” he added. “We will help them contribute to the future success of the company.” .
It also suggested a way to create jobs.
Coupang plans to create 50,000 new jobs by 2025. As of last year, nearly 50,000 employees are directly employed, and in particular, 25,000 people were hired last year despite the crisis of Corona 19.
Partnerships with small merchants were also emphasized.
“We launched a campaign with the central and local governments to support these key business partners through financial support and other incentives,” Coupang said. “In addition, with the Ministry of Maritime Affairs and Fisheries and local governments, “We have carried out the support project.”
Earlier, Coupang submitted a report to the US Securities and Exchange Commission (SEC) in accordance with the S-1 form for listing of Class A common stock (common stock). The number of common shares to be listed and the range of the offering price are still undecided. Coupang plans to list its common stock on the New York Stock Exchange (NYSE) under the’CPNG’ ticker code.
It is known that Coupang selects Goldman Sachs as the listing organizer and conducts a corporate briefing (IR). The listing promotion target is expected to be Coupang LCC (a US corporation), a parent company that has a 100% stake in Coupang.
After listing, it is estimated that Coupang’s corporate value will reach 30 trillion won. From the analysis that it will be around 27 trillion won due to the accumulated deficit of Coupang, there is also a forecast that it will reach 55 trillion won, which is higher than expected.