Coupang recorded a revenue of 40 trillion won last year, the first among domestic retailers, and it has been revealed that founder Bom Kim received 3 billion won as compensation last year. There were also executives who received much higher compensation than Kim. The Chief Financial Officer (CFO) of Coupang, Gaurav Anand, earned 14.8 billion won last year.
According to the disclosure materials submitted on the 29th by Coupang Inc., Coupang's parent company, to the U.S. Securities and Exchange Commission (SEC), the compensation for Chairman Bom Kim last year was $2.071 million (about 3 billion won). This was a 20% increase from the previous year ($1.73 million). Similar to 2022-2023, Kim received a base salary of $1.1 million, along with an additional $970,000 for housing and transportation, but did not receive any bonuses or stock compensation.
There were quite a few executives who received more compensation than Kim. In particular, Gaurav Anand CFO, who oversees finance, became the highest-paid executive among the key personnel by earning $10.287 million (approximately 14.8 billion won). This was four times higher than the $2.516 million earned in 2023.
CEO Kwang Heung Seung received $4.795 million (approximately 6.9 billion won). This is a 55.9% increase compared to $3.075 million (approximately 4.4 billion won) in 2023.
The base salary decreased from $766,000 to $733,000, a drop of 4.3%, while the bonus fell from $1.133 million to $366,000, a drop of 67.6%. However, the stock compensation amount surged from $989,000 to $3.562 million, leading to an overall increase in annual compensation.
Coupang Inc., listed on the New York Stock Exchange in the U.S., recorded revenues of 41.2901 trillion won and operating profit of 602.3 billion won last year. Coupang was the first retail company operating in Korea to achieve annual sales of 40 trillion won. The operating profit also recorded a surplus of over 600 billion won for the second consecutive year following 2023.
Coupang expects its sales to grow by around 20% this year. If the goal is achieved, annual sales are projected to reach 50 trillion won.