<Anchor> It is a
friendly economic time.
Today (16th) will also be with reporter Kim Hye-min.
Reporter Kim, it’s a company that has a very big issue these days, is it because of the listing?
I came out with news about Coupang. Why is Coupang listed in the US, not in Korea?
<Reporter> In
fact, Coupang has always expressed this will to be listed on the NASDAQ.
But this time, it broke expectations and announced that it would be listed on the New York Stock Exchange, which has more demanding listing requirements.
The New York Stock Exchange is the largest in the world, and it is capable of large-scale financing.
The Wall Street Journal reported that Coupang is expected to have a value of 50 billion dollars, or about 55.4 trillion won after Coupang is listed.
It was also predicted that the largest foreign company would be publicly listed after the Alibaba Group in China in 2014, and Coupang is also showing confidence in a turnaround as its sales increase recently.
Last year's operating loss was about 584.2 billion won. Compared to 2019, the deficit has decreased by more than 120 billion won.
The so-called ``Tesla listing'' has once made a deficit, but there is a ``special listing for non-profit companies,'' which judges the future value and admits it exceptionally.
Of course, the listing has not been confirmed yet, so we need to watch the remaining procedures such as Coupang's investor briefing session.
<Anchor>
Reporter Kim and Coupang are the most discussed among the reasons for listing in the US is the differential voting system.
But what is this first?
Please explain.
<Reporter>
Yes, it refers to differential voting rights for each type of stock.
Although it has already been introduced in the US and Europe, and is also spreading in Asia, Korea has not implemented it yet.
This time, Coupang divided the general stock into Class A and the stock held by Chairman Kim Bum-Seok into Class B, and gave Class B a differential voting right equal to 29 times.
If you own 1% of the stake, you can exercise 29% of shareholder rights.
It is possible to operate the company stably without threat of management rights.
I mentioned earlier that Korea has not been introduced yet.
Still, the discussion continued.
Currently, an amendment that gives this differential voting right to venture companies is pending in the National Assembly.
The opposition that it could be abused for the chaebol's expedient hereditary is also encouraging, but this year's coupang listing opened a place for active discussions again.
<Anchor>
The question here is that if Coupang is listed on the US stock market anyway, Korean investors are also public offerings, can they participate in this?
<Reporter>
No.
The United States is a little different from Korea, but individual investors are virtually unable to participate in this public offering.
The U.S. Securities and Exchange Commission explains that offering public offerings is risky and speculative.
If Coupang succeeds in listing, it will be possible to live as a single stock as early as next month.
However, it is highly recommended to watch the trend a little bit at the beginning of the listing, as volatility is high, and the US does not have an upper and lower limit system like Korea.
The interesting part is that Naver stocks jumped more than 5% yesterday, and it is said that if Coupang is recognized for its growth potential, Naver Shopping, the number one e-commerce business in Korea, can also be reevaluated.
The news of Coupang's IPO challenge already has a lot of influence on domestic stock markets.
<Anchor>
Lastly, Coupang announced plans to give employees free stocks ahead of the listing.
<Reporter>
Yes, I included all the coupang delivery staff, regular workers, and contract workers.
I got the stock for free.
It is a transfer-restricted conditional stock equivalent to about 2 million won per person. It is said that if you work for one year from the date you receive the stock, you receive half, and if you work for two years, you receive the other half.
Earlier, Coupang also revealed this plan in a listing declaration file filed with the US Securities and Exchange Commission.
Congratulations on Coupang's listing on the U.S. stock market, and it was said that it would give shares worth up to 100 billion won to dedicated employees amid the Corona 19 crisis.
There may be a reason to be listed on the New York Stock Exchange, but it has set a good precedent for our Coupang employees who have struggled in the field as well as setting a model for other companies.