Coupang Inc. Posts Q3 Operating Loss of W642.3 Bln, Estimated W350 Bln in Fire Costs

[Economy 365]

Coupang's parent company, Coupang Inc., has recorded an operating loss of over 600 billion won in the third quarter.

The operating loss for the third quarter stood at 642.3 billion won, turning to a deficit from a surplus during the same period last year.

Although the loss decreased compared to the second quarter, it marks the second-largest quarterly deficit on record.

Excluding the costs related to the Incheon logistics center fire that occurred in July, the operating loss was 288.2 billion won, with the fire-related expenses estimated at approximately 354 billion won.

The cumulative operating deficit for the first three quarters of this year reached 1 trillion 831.8 billion won.

This is close to the 1 trillion 898.7 billion won in operating profit accumulated over the three years from 2023 to last year, meaning that nearly all the profits built up since turning a surplus have been wiped out.

However, third-quarter revenue increased by 11 percent from a year earlier to 14 trillion 220.9 billion won.

*This article was produced with AI audio.

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