(Getty Images)
(Getty Images)

South Korean e-commerce giant Coupang achieved a record high in estimated transaction volume last year, surpassing 55 trillion won ($38 billion), data showed Tuesday.

According to data from market research firm WiseApp Retail Goods, which tracks private spending by Koreans aged 20 and older through credit cards, debit cards and bank transfers, Coupang’s estimated transaction volume reached 55.08 trillion won last year, marking a 23.6 percent increase from 44.5 trillion won in 2023.

The company has consistently seen annual growth of 10 to 20 percent, with transaction volumes of 33.1 trillion won in 2021 and 38.6 trillion won in 2022.

In line with Coupang's record-breaking figures, its food delivery service, Coupang Eats, more than doubled its estimated transaction volume last year, reaching a record of 5.1 trillion won from 2 trillion won in 2023. Combined, Coupang and Coupang Eats' total transaction volume in 2024 surpassed 60 trillion won.

With its annual earnings report set for release this Wednesday, industry insiders anticipate Coupang, listed on the New York Stock Exchange, to hit a record by surpassing 40 trillion won in annual sales. In the third quarter last year, the company reported 10.6 trillion won in sales, up 32 percent on-year, with operating profits jumping 29 percent on-year to 148.1 billion won.

In 2023, the company reported sales of 31.8 trillion won, a 20 percent on-year increase, while achieving its first-ever annual operating profit of 617.4 billion won.


minmin@heraldcorp.com