Harold Rogers, the interim Chief Executive Officer (CEO) of Coupang’s Korean subsidiary, introduced the company on Tuesday in the U.S. as the biggest American company you don’t know about.
Speaking at the Semafor Global Economic Summit in Washington, D.C., Rogers explained that the reason is that most of the key consumer markets are outside the U.S.
While Coupang generates about 90% of its revenue in South Korea, it’s registered as a U.S. company in Delaware. Coupang Inc., listed on the New York Stock Exchange (NYSE), serves as the parent company, with founder Bom Kim maintaining effective control through a dual-class voting structure.
Rogers stated that it operates in 190 regions and countries worldwide, with South Korea being the largest market.
He noted that last year, it achieved approximately 35 billion USD in revenue, adding that despite its size, it maintains the unique startup DNA that fuels the growth and innovation.
He further explained that at its core, Coupang is an e-commerce company – think of it as a retail distribution business where you can purchase anything you desire. However, they’ve expanded into groceries, video streaming, fintech, and cloud computing.
Rogers emphasized that it sees themselves as a bridge connecting American companies with consumers in the regions where it operates. He highlighted that last year, Coupang sold 5 billion USD worth of American goods to Asia, a figure that continues to grow annually.
He also mentioned that they’re the second-largest employer in South Korea, noting that as far as it knows, South Korea is the only advanced economy where an American company has achieved this status.
Rogers remarked that this position offers a tremendous opportunity to serve as a bridge for U.S. government and business interests, connecting them with Korean consumers, workers, and the government.
Additionally, Rogers asserted that it aims to be a partner that provides tangible support to the U.S. as it collaborates with its most important allies, and it’s actively fulfilling that role.
He also explained that innovations in logistics utilizing artificial intelligence (AI) represent Coupang’s core competitive advantage.
Rogers stated that AI is at the center of everything it does, explaining that they maximize logistics efficiency by predicting demand before customers place orders and pre-positioning products accordingly.
He introduced Coupang’s Rocket Delivery system, which ensures that orders placed before midnight are delivered by 7:00 a.m. the next day.
Rogers also revealed Coupang’s investment status in the AI sector.
He disclosed that since 2023, they have invested about 84 million USD in AI technology startups, citing Contoro Robotics, an AI startup in the robotics and logistics field, as a prime example.
He described Contoro as a logistics AI startup that assists with packaging and moving items in warehouses, highlighting its impressive ability to handle boxes without errors, even when they’re damaged, and to place them accurately and quickly.
Rogers continued by noting that the company, which has 35 employees, was founded by a Korean American who received scholarships from both the South Korean government and the National Aeronautics and Space Administration (NASA).
