Minister of Small and Medium Venture Business Kwon Chil-seung gives a briefing on hiring a venture business in 2020 at the Sejong-ro Government Complex in Jongno-gu, Seoul on the 16th. News 1
Minister of SMEs and Startups Kwon Chil-seung said on the 16th that “American companies are listing in the United States” regarding Coupang’s promotion of listing on the New York Stock Exchange. He said in a briefing held at the Seoul government office that day, “Coupang’s promotion of listing is a little different from a Korean indigenous company investing in Korea and growing up and going abroad.”
In response to an additional question from the journal, “Coupang headquarters (Coupang LLC), which owns 100% of Coupang, which does business in Korea, is located in Delaware, USA. It is a company invested by foreign capitals such as Japanese Softbank. Founder Kim Bum-seok, Chairman of Coupang’s Board of Directors, is also an American. It is clear that the company (Coupang headquarters) is listed.”
Minister Kwon said, “(Coupang headquarters) created a subsidiary, came to Korea to do business, and that is why it was raised.” . He added, “(Coupang’s listing on the New York Stock Exchange) is of great significance in that Korea’s venture ecosystem was large enough to be listed on the US stock market based on its business in Korea.”
On the other hand, regarding the introduction of multiple voting rights, Minister Kwon said, “It seems difficult to say that listing is not possible because listing is not comfortable because there are multiple voting rights. It is difficult to predict what effect the multiple voting rights themselves will have on listing,” he said.
Reporter Chu In-young [email protected]