Hong Nam-ki “International recognition of Coupang’s’To New York’ unicorn company growth potential”

Hong Nam-ki, Deputy Prime Minister of Economy and Minister of Strategy and Finance, is presiding over an extended executive meeting held in the conference room of the Ministry of Strategy and Finance of the Government Complex Sejong on the 8th. (Provided by the Ministry of Strategy and Finance) 2021.2.8-Deputy Prime Minister Hong Nam-ki and Minister of Strategy and Finance said on the 14th that Coupang’s promotion of listing on the New York Stock Exchange was “an international recognition for the growth potential of Korean unicorn companies and non-face-to-face industries.

On this day, Deputy Prime Minister Hong made a statement on his Facebook page entitled’Coupang’s promotion of listing on the US stock market, a feat of Korean unicorn companies’. Unicorn companies refer to unlisted startups with an enterprise value of over 1 trillion won.

Deputy Prime Minister Hong said, “If Coupang is listed on the US stock market, it is significant in that Korean unicorn companies have been recognized for their global competitiveness.” “Main foreign media are evaluated as the largest foreign company IPO (public disclosure) since IPO in 2014. It is expected to reach the market value of 30 billion to 50 billion dollars.”

He said, “With this promotion of Coupang’s listing on the US stock market, we once again reflect on the importance of revitalizing venture investment.” I came.” He continued, “The government has also supported the growth of venture companies through expansion of financial and financial support, system maintenance such as limited permission for holding venture capital (CVC) of general holding companies, and promotion of the introduction of multiple voting rights.” As this is being emphasized more than ever in the past, the government will continue to do its utmost to strengthen the venture and startup ecosystem.” Deputy Prime Minister Hong said, “There are numerous companies with global competitiveness in Korea. If we look beyond the domestic market to the global market, endless opportunities will open. In particular, the expansion of the non-face-to-face industry after Corona 19 will be an opportunity to break down the border barriers.” He added, “The government will continue to strengthen support for expanding overseas expansion so that not only large corporations, but also competitive SMEs and venture companies can open up new markets overseas.”

Meanwhile, on the 12th (local time), Coupang submitted the application documents for listing of Class A common stock to the US Securities and Exchange Commission. Coupang offers a fast delivery service of daily necessities and industrial products, as well as fresh foods where freshness is important, through early morning delivery and same-day delivery.

(Sejong = News 1)