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Games & Commerce

Korea platform membership rivalry heats up: Naver points vs Coupang delivery vs Kakao connections

Kakao has launched a 4,900-won monthly integrated membership and started first-come, first-served sign-ups for a small group of users, intensifying paid membership competition among Korean platforms. Naver Plus Membership also charges 4,900 won and has expanded benefits from shopping points to content and delivery. Coupang’s Wow Membership costs 7,890 won and focuses on shipping and food delivery. Kakao is tying KakaoTalk users to shopping, payments, content, finance and insurance services.

Games & Commerce

Coupang posts 835 billion won Q2 operating loss, swings to deficit from year ago

Coupang moved into an operating loss in the second quarter after reflecting a penalty related to a personal data leak, pushing its first-half operating loss above 1 trillion won. Coupang Inc reported revenue of 13.3 trillion won and an operating loss of 835 billion won, versus an operating profit a year earlier. It booked about $410 million in penalties in operating expenses. Active customers rose to 24.7 million, and the company guided to 8 to 9 percent constant-currency revenue growth for the third quarter.

Games & Commerce

Coupang to triple purchases of Ugok green watermelons to expand market access

Coupang will triple its direct purchases of Ugok green watermelons, a specialty of Goryeong County in North Gyeongsang Province, and sell them nationwide through its Rocket Fresh dawn-delivery service. The company will expand purchases from about 5,000 melons last year to about 15,000 this year, it said on May 12. The move follows an agreement with the Goryeong County Office to increase purchases from about 500 local farms and broaden sales channels.