‘Yogiyo’ acquisition virtually negative
“We will focus on expanding logistics centers”
“The deficit is not a loss, it is an investment”
“I will do my best, such as the industrial accident problem”
“The first Korean flag in the 200-year history of the exchange”
viewer
Coupang Chairman Kim Bum-seok, who successfully listed the New York Stock Exchange (NYSE), said he would continue to invest in innovation. Also, although not essential, it suggested that differential voting rights were one of the many reasons for choosing to go to New York, and that it was not considering mergers and acquisitions (M&A) in the near future.
Chairman Kim said at a video conference with the New York Correspondent on the 11th (local time), saying, “We will secure competitiveness to confront global competitors with new funding and aggressively innovate investments.”
He added, “I will make a lot of investment in expanding distribution centers to expand the nationwide delivery network,” he added. “We will create a lot of good jobs and contribute to vitalizing the local economy.”
Chairman Kim also said that for the time being, he would focus only on domestic sales. He drew a line, saying, “In the long term (such as Southeast Asia and the United States), we cannot say that we do not have a dream to expand overseas.” The size of Korea’s commerce (commerce) market is 530 trillion won, which is not small compared to any other country in the world.
It expressed a negative position on the possibility of acquiring the food delivery application’Yogiyo’. Chairman Kim said, “(We) consider the cultural part very important. It cannot be said that we have closed all M&As for all M&As, but through a lot of analysis and consideration, we have to judge that it is correct.” Emphasized.
Regarding the part of differential voting that was controversial in the process of listing on the New York Stock Exchange, “The biggest goal of listing is financing, and global companies also come to New York to raise capital to secure global competitiveness. That had the greatest impact,” he added, adding, “It was one of many reasons that we were able to use (differential voting rights).” Differential voting rights are a system designed to defend management rights by giving voting rights beyond the stocks held.
Regarding the timing of the turnaround, he said, “I think it was investment, not the deficit.”
It has expressed a principled position on the issue of industrial accidents, which have recently been controversial. “The safety and working conditions of all workers are very important values,” said Kang Seung, CEO of Coupang’s business management. “It was the first in the industry to introduce a 5-day, 52-hour working system and provided four major insurance for delivery drivers. I will do my best in the future.”
On this day, Chairman Kim explained to the US economic broadcaster CNBC that “Korean creativity has made a miracle on the Han River,” and “I am so excited that we (Coupang) have become a small part of this incredible story.” Separately, Kang said, “It is said that the history of the New York Stock Exchange has been over 200 years, and it is the first time that the Taegeukgi has been raised here.”
/New York = Correspondent Kim Young-pil [email protected]
< 저작권자 ⓒ 서울경제, 무단 전재 및 재배포 금지 >