In brief
Coupang Inc. posted a net loss of 715.1 billion won in the third quarter, the first loss in three consecutive quarters, largely because of expenses linked to a July fire at a fulfillment center in Incheon, South Korea. Revenues climbed 11 % to 14.22 trillion won, but operating costs pushed the company into an operating loss of 642.3 billion won. The company also faced ongoing fallout from a 2025 data breach and repurchased $210 million of its shares during the quarter.
In the summer of 2026 a blaze erupted at a Coupang Fulfillment Center in Incheon, just west of Seoul, damaging facilities and pushing the South‑Korean e‑commerce giant into a third‑quarter loss for the first time this year. The fire, described by the company as the second‑longest‑lasting warehouse fire in South Korea, has been a key factor in the company’s financial swing.
According to a press release cited by Yonhap, Coupang reported a net loss of 715.1 billion won (about US$501 million) for the quarter ending in September, versus a net profit of 131.6 billion won during the same period last year. The company said that costs associated with the Incheon fire were the primary cause of the loss.
The losses extended into operating results as well. Operating loss for the quarter reached 642.3 billion won, compared with an operating profit of 224.5 billion won in the September quarter of 2025, Yonhap noted.
In spite of the losses, sales grew 11 percent year‑over‑year to 14.22 trillion won, up from 12.85 trillion won in Q3 2025. The core Product Commerce segment saw sales rise 8 percent to 11.95 trillion won, while the Developing Offerings segment, which includes Coupang’s Taiwan operations and food‑delivery service Coupang Eats, grew 27 percent to 2.27 trillion won. Active customers in Product Commerce increased 2 percent to 25.2 million, according to the company.
The fire’s impact is compounded by the legacy of a data breach disclosed in November 2025 that affected more than 37 million customers. Yonhap reported that this breach has continued to weigh on earnings, adding to the company's quarterly losses.
During the quarter, Coupang repurchased $210 million of its own shares, following a board approval of a $1 billion share‑buyback program earlier in the year, Yonhap reported.
While the company’s financials show a shift to the negative, the rise in sales and the number of active customers indicate ongoing demand for its core online‑shopping service. However, the company faces continued scrutiny over operational resilience and data‑security practices following the Incheon blaze and the earlier breach.
