Coupang to apply increased membership fees from Aug. 7

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Coupang to apply increased membership fees from Aug. 7

Published: 08 Jul. 2024, 20:04 Updated: 08 Jul. 2024, 20:45

PARK EUN-JEE
park.eunjee@joongang.co.kr

Coupang's delivery truck is parked at the company's logistics center in Seocho District. [YONHAP]

Korean e-commerce giant Coupang said Monday it will apply increased monthly membership fees for all paid users from Aug. 7.

Since April 13, Coupang has charged new WOW membership users 7,890 won ($5.70), sharply up from the previous fee of 4,990 won.

The company said it will also raise the monthly fees for existing members in August.

Back then, Coupang members were divided over the steep increase in membership costs.

Some said they were so addicted to Coupang’s “rocket delivery” services that they could not withdraw from the membership, while others said a 58 percent hike was excessive at the time.

Previously, the monthly fee saw a 72 percent hike to 4,990 won from 2,900 won in 2021.

The number of WOW members had stood at around 14 million as of the end of 2023.

If there are no withdrawals from the membership, Coupang’s paid membership fees will jump 57 percent to 1.32 trillion won a year from 838.8 billion won.

Coupang’s new services, such as streaming platform Coupang Play and food delivery service Coupang Eats, have helped the company boost its number of users in Korea.

Yonhap