Son Jeong-ui "Considering Introducing Coupang in Japan" (Comprehensive)

Discussion on Service Introduction with Naver and Japan's SoftBank
Entering the World's 4th Largest Market, US Stock Price Up 5.7%

▲Masayoshi Son, Chairman of SoftBank [Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Coupang, which recently successfully listed on the New York Stock Exchange (NYSE), is expected to challenge the Japanese market alongside Naver and Japan's SoftBank.

On the 29th (local time), according to major foreign media, SoftBank Group (SBG) Chairman Masayoshi Son (Son Jeong-ui) revealed that he is discussing plans to introduce Coupang's services to Japan through SoftBank's subsidiary Z Holdings and Coupang.

Z Holdings is an intermediate holding company launched on the 1st to integrate Naver's Japanese subsidiary Line and SoftBank's Yahoo Japan. Earlier, Naver had announced plans to enter the Japanese market with its 'Smart Store' in the first half of this year. If Coupang enters Japan through Z Holdings, the two biggest competitors in the domestic e-commerce market, Naver and Coupang, will join forces. Chairman Son is playing the role of a bridge in this.

Thus, by entering Japan's e-commerce market, the world's fourth largest, Naver and Coupang will expand beyond the limited domestic market, and Chairman Son will be able to strengthen Yahoo Japan's e-commerce competitiveness, which has been lagging behind Amazon and Rakuten. Japan's e-commerce market ranks fourth globally after China, the United States, and the United Kingdom.

Following this news, Coupang's stock price surged 5.7% to $46.01 on the New York Stock Exchange that day. This is the first time the stock has risen more than 5% since its NYSE listing.

Meanwhile, Coupang was listed on the New York Stock Exchange on the 11th. Chairman Son invested $1 billion in 2015 and $2 billion in 2018 in Coupang through SoftBank Group's Vision Fund. Currently, Chairman Son is the largest investor, holding a 33.1% stake in Coupang.