Ahead of Coupang’s listing on the New York Stock Exchange (NYSE), Bum-Seok Kim, Chairman of the Board of Directors, received attention for his emphasis on the importance of customer value and innovative investment.
On the morning of the 11th (local time), Coupang Chairman Kim Bum-seok appeared on the CNBC Squawk box of the US economic broadcaster and said, “We have always valued customers and will not change in the future.
In addition, he said, “Even after listing, we will not stop investing in innovation, including delivery,” and introduced the early morning delivery and eco-friendly delivery system introduced in Korea.
CNBC introduced Coupang as Korean Amazon, but also asked when the company could make a profit. Accordingly, Chairman Kim emphasized’long-term customer value’ and did not give a specific answer.
In addition, Chairman Kim said, “In the 1950s, Korea was the world’s worst-living country, with a per capita GDP of only $79, but now it is one of the 10 best-lived countries.” I introduced it.
Chairman Kim Bum-seok is scheduled to press the opening bell at the New York Stock Market Opening Bell event on the 11th. Previously, the flag of Coupang and the Taegeukgi were hoisted on the New York Stock Exchange building.
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Meanwhile, Coupang announced that the public offering price was set at 35 dollars (about 40,000 won). This is higher than the $32-34 originally offered.
With the public offering price set at $35, Coupang will be able to raise capital close to 5 trillion won through this IPO. In addition, the enterprise value is expected to be $63 billion (about 71 trillion won). This is seven times higher than the recognized corporate value ($9 billion) when Coupang finally received external investment.