Attracting 800 Bil. Won in 2019 Alone
Coupang has carried out its third capital increase for this year. The company attracted about 800 billion won (US$691 million) in funds this year alone, including the 116.5 billion won (US$100 million) capital increase implemented on Dec. 20.
Considering is believed to have secured fresh funds worth 791.8 billion won (US$684 million) through the three capital increases this year. Coupang LLC, the U.S. headquarters of Coupang, has received around 1.35 trillion won (US$1.17 billion) since it received 2.3 trillion won (US$2 billion) from SoftBank’s Vision Fund in November last year.
Coupang is continuing to expand the areas covered by its rocket delivery service, which requires large-scale investment in logistics infrastructure. If the company maintains its fast pace of investment, it is expected exhaust its investment funds as early as next year.
The Financial Supervisory Service (FSS) recently put pressure on Coupang to keep its financial situation transparent. In September, the FSS demanded Coupang draw up a plan to improve its management, including paid-in capital increases, and report it periodically. Electronic financiers are required to keep their equity capital to outstanding balance ratio above 20 percent, but Coupang fails to meet this standard.