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Bom Kim, chairman of Coupang Inc. / Courtesy of Coupang

Coupang posted its highest-ever revenue of 23.36 trillion won ($16.6 billion) in the first half of 2025, cementing its position as a global e-commerce powerhouse. After breaking quarterly sales records in both Q1 and Q2, analysts believe the company could reach 50 trillion won in annual revenue if the growth trend continues.

On August 6, Coupang announced Q2 revenue of 11.98 trillion won ($8.52 billion), a 19% year-on-year increase from 10.04 trillion won. This followed Q1’s record 11.49 trillion won, bringing H1 cumulative sales to 23.36 trillion won. Q1 sales had surged 21% from 9.45 trillion won a year earlier.

The company’s growth was largely driven by its overseas ventures, including Taiwan’s Rocket Delivery and luxury e-commerce platform Farfetch. Sales from these growth businesses reached 1.67 trillion won ($1.19 billion) in Q2, up 33% from a year earlier, contributing 3.18 trillion won in H1—13.6% of total revenue.

Farfetch, acquired early last year, and Taiwan Rocket Delivery were key growth drivers, realizing founder Bom Kim’s vision of creating an “Asian Amazon.”

Profitability also improved significantly. Operating income hit 209.3 billion won ($149 million) in Q2, reversing a 34.2 billion won loss in the same period last year. Cumulative H1 operating profit was 443 billion won, with an operating margin of 1.9%, up from 0.2% last year.

Net income also turned positive, reaching 43.5 billion won ($31 million) in Q2 and 165.6 billion won ($114 million) in Q1, totaling 209.1 billion won in H1, compared with a 175.6 billion won loss last year.

Coupang’s core product commerce business (Rocket Delivery, Rocket Fresh, Rocket Growth, and Marketplace) remained solid, with active customers up 10% year-on-year to 23.9 million in Q2. Product commerce revenue grew 17% to 10.3 trillion won ($7.33 billion) in Q2, accounting for 86.8% of total H1 sales.

Revenue per active customer also increased, reaching 431,340 won ($307) in Q2, up 6% from last year.

Coupang’s record H1 performance underscores its evolution into a global e-commerce platform, leveraging its logistics and technology infrastructure to expand across key Asian markets. While losses in growth businesses widened slightly, the narrowing deficit trend remains a positive sign for the company’s long-term expansion.