“Coupang promotes listing in the US, meaning the growth of domestic venture ecosystem”
Minister of SMEs and Startups Kwon Chil-seung assessed that Coupang’s promotion of listing on the New York Stock Exchange was an indication of the growth of the Korean venture ecosystem.
At a briefing on the employment trend of a venture company held at the government office on the 16th, Minister Kwon said, “Coupang has grown into a unicorn company by doing business in Korea. It means a lot,” he said.
Minister Kwon said, “There is no correct answer because there are so many different systems around the world regarding the multiple voting rights and Coupang’s listing in the United States. It is difficult to say that it can be done.”
He added, “It is a wise way to choose the method that best suits the country for multiple voting rights,” he said.
From that point of view, the government is promoting (introduction).”
In connection with Coupang’s US stock market launch, Cha Jung-hoon, head of the Startup Venture Innovation Division, 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.”
“Spotify is headquartered in Sweden, but the holding company is in Luxembourg,” said Cha said. “The holding company in Luxembourg is listed in the United States, but I still admit that it is a company based in Sweden.”
“Listing is to attract investment funds in order for companies to grow,” he added. “It is important that the business model created in Korea (referring to Coupang) has made examples of foreign countries.
/yunhap news
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