Coupang’s revenue for 2018 hits KRW 4.42tn (US$ 3.5bn), a new record for Korea’s ecommerce market. Growth supported by heavy investment The retailer’s revenue grew by 65% over 2018, an impressive leap from 40% growth in the previous year. Its losses also jumpred to KRW 1.1tn last year from KRW 638.8 bn in 2017. The eight-year-old retailer has lost money every year and will continue to inves...

Customers at select GS25 convenience stores in South Korea will be able to charge shared electric bicycles from June. Shared electric bicycles and charging facilities GS Retail's convenience chain, GS25, is setting up charging facilities for 800 electric bicycles in partnership with GoGoSing at its stores. The service will be made available in Gangnam District in Seoul and Pangyo in Gyeongg...

South Korea’s food manufacturing conglomerate Daesang Group is to sell its remaining stake in the convenience store chain, Ministop Korea, to its Japanese partner Aeon. A deal estimated at US$80m Daesang and Aeon are finalising the terms of the deal, which is estimated at US$80m. Both parties aim to complete the sale within March. Aeon currently owns 76.06% Ministop Korea, Daesang 20% an...

Asian private-equity firm MBK Partners withdrew a planned Homeplus property float due to weak interest. A potential US$1.5bn plan MBK was planning to spin off 51 of the South Korean retailer’s hypermarket buildings in cities including Busan and Incheon through a US$1.5bn float of a real estate investment trust (REIT). The proceeds were potentially to be used to pay off most of a hefty fi...