Coupang's mounting losses threaten growth model amid regulatory pressure
Coupang Inc., the U.S.-based operator of Korea's largest e-commerce platform, accumulated 1.83 trillion won ($1.28 billion) in operating losses in the first nine months of this year, as a data breach and regulatory pressure weigh on profitability. According to results released Wednesday, Coupang posted an operating loss of 642.3 billion won in the third quarter, following losses of 835 billion…
Coupang Inc., the leading e-commerce platform in South Korea operated by a U.S.-based company, has accumulated significant operating losses in the first nine months of the year. Operating losses reached 1.83 trillion won ($1.28 billion) during this period, hampered by a data breach and regulatory pressure.
The most recent quarter, Q3, saw an operating loss of 642.3 billion won, following losses of 835 billion won in Q2 and 354.5 billion won in Q1. This Q3 loss included 354 billion won in expenses incurred due to a fire at one of its fulfillment centers in Incheon. The company also continued to bear the costs of compensating customers following the data breach that occurred last year.
The Fair Trade Commission (FTC) imposed a 624.7 billion won fine, further impacting Q2 earnings. The accumulated losses have nearly nullified the 1.9 trillion won in operating profits Coupang generated between 2023 and 2025. Despite these losses, revenue for Q3 reached a record 14.22 trillion won, while the number of active customers increased by 2 percent year-on-year to 25.2 million.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were not provided in the source material.
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