The reason why Coupang and Kim Bum-seok see Korean consumers as dog pigs and ignore them is very simple.
No matter how much we swear, we believe, “You’re going to use Coupang again anyway, right?”
Then we have to touch their Achilles heel in a capitalist way. It’s American stock prices.
It’s not Korean law that they’re most afraid of, it’s American shareholders.
Let’s take a look at the numbers.
Coupang’s all-time high is $34.08 this September after it was listed on the New York Stock Exchange.
On the other hand, the lowest price ever was $8.98 in May 2022.
But the atmosphere is unusual.
As the incident broke out and the anger gauge of the people went up, the stock price began to react.
The stock fell throughout the outbreak, and yesterday alone, it closed at $23.19, with a 4.69% drop.
It’s still 158% higher than the lowest price ($8.98), but it’s already evaporated 31% compared to the highest price just a while ago.
The market capitalization, which was once close to 100 trillion won, has shrunk to 62 trillion won now.
What would happen if we band together and bring Coupang’s stock back below its all-time low of $8.89?
Will Kim be able to hold up his head as stiff as he is now? Never.
Because U.S. shareholders won’t let it go.
What a load of “I can’t go to the hearing” after leaking 36 million people’s personal information?
If the stock is smashed, Kim Beom-seok, who was pretending to be busy, will crawl out on his feet and kneel in front of Korean consumers.
It’s not just a matter of Coupang. You have to set an example so that other foreign capital can’t treat Korean consumers as an excuse.
What matters is how.
It’s not enough to just boycott without using the app. The U.S. market values the number of members and active users (MAU).
It’s important not to use it, but you have to withdraw from membership and cut down on the membership itself to give them a real number shock.
How can I live without Coupang and without early morning delivery because it’s uncomfortable?
When I looked it up, there were more places other than Coupang that delivered fast and gave me a lot of points than I thought.
There are plenty of alternatives. And the withdrawal process? It’s much simpler than I thought.
Let’s do it together right now.
Let’s all get out of it together and make sure that the cheeky Coupang and Kim Bum-seok don’t ignore Korean consumers again.
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