Coupang reported a huge loss and a dramatic miss in its first earnings announcement as a public company, the stock dropping below its IPO price in after-hours trade.
Coupang announced it will build a distribution center in Gwangju to offer one-day deliveries to more parts of the country.
Coupang is No. 2 on the 2020 CNBC Disruptor list, and the first Korean company to make it onto the list, which has been published by the U.S. business channel since 2013.
A total of 11 people have now tested positive for coronavirus in connection with a possible cluster at a Coupang distribution facility in Bucheon, Gyeonggi.