<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 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 it would be the largest foreign company publicly listed after the Alibaba Group in China in 2014, and Coupang is also showing confidence in turning to a surplus 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.
There is a'Special Listing for Non-Profit Companies', which at one time is making a deficit because it is listed as'Tesla'.
Of course, the listing has not been confirmed yet, so we have to watch the remaining procedures such as Coupang's investor briefing session.
<Anchor>
Reporter Kim and Coupang said that the differential voting system is the most talked about among the reasons for listing in the United States, but what is this first?
Could you 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, Korea, has not yet implemented it.
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.
Even if you own 1% of the shares, 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 only 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 you 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 seems that it will be able to live as a single stock as early as next month.
However, at the beginning of the listing, volatility is high, and the US does not have an upper or lower limit system like Korea, so it is recommended to watch the trend a little.
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 called stocks with limited transfer, equivalent to about 2 million won per person. It is a method of receiving half if you work for one year from the date of receipt of the stock and half if you work for two years.
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 that it will 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 and set a model for other companies.