Son Jung’s’eyes’ invested in every Kobi… Next is artificial intelligence
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Following the promotion of Coupang’s listing on the New York Stock Exchange, we recently announced that it will distribute 100 billion won of stock to Coupang Man.
It is an evaluation that there was a view of Chairman Son Jeong-eui, who was called Midas’s hand, behind the huge Coupang literally.
Reporter Park Jin-hyung’s report.
[기자]
Coupang started as social commerce in 2010 and switched to direct purchase and distribution in 2015.
Since 2014, the company has achieved an amazing 58% annual average sales growth, but every year, astronomical operating losses have followed like a tag.
Softbank led by Chairman Son Jeong-eui was the one that made bold investments at every turn.
In June 2015, Coupang, which received an investment of 1 billion dollars and about 1.1 trillion won in Korean money from SoftBank, re-attracted 2 billion dollars and 2.5 trillion won in Korean money in November 2018 three years later.
It was supported by the Vision Fund, which selects and invests in a company in the eyes of Chairman Son Jeong-eui.
The Vision Fund invested in WeWork, an office sharing company that failed to go public, and Coupang, a deficit company, and gained the stigma of being a fund that pours water into the bottom of the poison. With a quarterly net profit of over 30 trillion won, it has regained its reputation as the’Hand of Midas’.
Chairman Son expressed confidence that 15 companies have been publicly traded by investing in 131 companies so far, and that the Vision Fund has just entered the harvest period.
Coupang, which Chairman Son owns 38% of, is also expected to give him $19 billion, which is more than six times the investment, and 21 trillion won from our money, depending on the corporate value.
Chairman Son’s future focus is artificial intelligence AI, and some point out the high proportion of Chinese companies’ investment as a risk factor.
This is Jinhyung Park on Yonhap News TV.
Yonhap News TV article inquiries and reports: katok/line jebo23
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