SEOUL -- Leading South Korean e-retailer Coupang is investing aggressively in response to cutthroat competition both from domestic and new Chinese rivals, even as the mounting costs drive the company into the red.
Coupang's revenue jumped 23% on the year to $7.1 billion for the January-March quarter. Yet the company booked a net loss of $24 million, its first in seven quarters, compared with a $91 million profit a year earlier.
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
