E-commerce industry shackled in ballooning losses as competition stiffens
Feb 14, 2017
Despite the ballooning volume of e-commerce, deficits for online shopping malls are also bloating with even a rough estimate pointing to over 1 trillion won ($876.88 million) last year, industry officials said Tuesday.Industry records showed the country's three leading social commerce sites -- Coupang, Ticket Monster and WeMakePrice -- suffered combined losses of 834.6 billion won in 2015, with Coupang accounting for the largest at 547 billion won. Officials say their business last year has not