Equity Analysis /
South Korea

Coupang: Korea's e-commerce champion can 'Rocket'

  • Coupang is the dominant e-commerce player in South Korea in terms of both retail value and revenue

  • Coupang has prospered in the pandemic with a growth of 74% in GMV

  • We initiate coverage on Coupang with a Buy recommendation and TP of US$48, implying 48% upside

Coupang: Korea's e-commerce champion can 'Rocket'
Nirgunan Tiruchelvam
Nirgunan Tiruchelvam

Head of Consumers Equity Research

Tellimer Research
9 September 2021
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