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Minister of SMEs and Startups Kwon Chil-seung said, “It is an American company to be listed in the United States” regarding Coupang’s promotion of listing on the New York Stock Exchange. He pointed out that Coupang INC, which owns 100% of Coupang, is a company in the United States.
Minister Kwon said at a briefing on employment trends for venture companies held at the government office in Seoul on the afternoon of the 16th, “The issue of listing Coupang is a little different from going abroad after receiving investment from here (Korea).” As a result, it is listing in the US.
He said, “It is of great significance that Coupang has grown into a unicorn company by doing business in Korea, and based on this, our venture ecosystem was large enough to be listed on the US stock market.”
However, regarding the view linking the existence of multiple voting rights and Coupang’s listing in the United States, there is no correct answer as “there are so many different systems related to multiple voting rights in the world.” “It’s difficult.”
He added, “It is a wise way to choose the method that best suits the country for multiple voting rights,” he said. “It will definitely help to create an ecosystem where venture companies can grow into unicorns.” He explained that the government is promoting the introduction.
Regarding Coupang’s US stock market launch, Cha Jung-hoon, head of the Startup Venture Innovation Office, also cited the case of the global music streaming company’Spotify’, saying, “This is a standard model listed on the NASDAQ or New York Stock Exchange.”
Shin Hyun-bo, Hankyung.com reporter [email protected]
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