Coupang "Chairman Kim Bum-seok sells 500 billion won worth of shares...Financial objectives such as taxes"

Coupang Chairman Kim Bum-seok sells stocks worth 500 billion won.

Coupang said Chairman Kim Bum-seok will sell 15 million shares of his own and donate 2 million of them to charity.

It is the first sale since the listing of the New York Stock Exchange in 2021.

The exchange rate is 1,400 won, and based on today's closing price, it is 500 billion won worth of our money.

Coupang said Kim was selling shares to meet significant financial requirements, including tax obligations.

Coupang said the sale will begin on the 11th and run until August 29 next year, and may be completed early.