Coupang: "Even with Increased Losses from COVID-19, We Will Remain a Pillar for Customers"

Emphasize Sending Email to All Employees from CFO Alberto Ponaro

[Asia Economy Reporter Kim Cheol-hyun] Coupang stated on the 27th through an internal email that despite losses caused by the novel coronavirus infection (COVID-19), it will be a pillar of support for customers.

Alberto Ponnaro, Coupang's Chief Financial Officer (CFO), explained, "COVID-19 increased our transaction volume by about 15% this year unexpectedly," but added, "However, we have had to bear additional COVID-19 related expenses of approximately 500 billion KRW annually."

He continued, "We are willing to bear the costs to ensure the safety of 50,000 employees working within Coupang's 600,000-pyeong infrastructure, as well as to keep our promises to customers."

When COVID-19 spread earlier this year, Coupang froze mask prices. While other online shopping companies delayed deliveries by several weeks, Coupang kept its next-day delivery promises and simultaneously increased dawn delivery and same-day delivery. Coupang was evaluated as contributing to preventing the spread of infection and panic buying by delivering food and daily necessities to one million households daily.

CFO Ponnaro emphasized, "Even in this crisis, we will never sacrifice customer experience out of concern for losses," and added, "When customers are in difficult situations, we must once again be their pillar of support."