“Coupang Year Market Curly is also reviewed for listing in the US”

Input 2021.03.12 09:32

The Wall Street Journal (WSJ) said on the 11th (local time) that Coupang was recognized for its corporate value of 100 trillion won on the first day of listing on the New York Stock Exchange (NYSE). Reported.

In an interview with WSJ, CEO Seul-ah Kim of Market Curly said, “We are discussing with the bank a plan to list on the US stock market before the end of this year.” WSJ reported that Market Curly was established in 2014 and is valued at 1 trillion won in corporate value.

WSJ explained that Kim is a former Goldman Sachs analyst who tastes all the products sold by Market Curly, including pet food.

WSJ said that Korea has become a test bed (proving ground) to find out the future direction of online shopping around the world because of its wealth, hyper-connectivity, and population density. According to research firm Euromonitor, no country in the world has a high e-commerce penetration rate, such as Korea, where two-thirds of consumption is made online. The e-commerce market is expected to grow 11% this year, higher than that of the US, UK, China and Japan.

“Korea is one of the world’s leaders when it comes to how much consumption is done online,” said John Lindfoss partner of DST Global, who invested in Market Curly and US grocery delivery startup InstaCart. said.

Coupang cited artificial intelligence (AI) to determine the most efficient route for product delivery, and Market Kurly uses data analysts to predict daily fishermen’s catches to determine how fresh seafood can be served, WSJ said.