Feb. 7 at 7:46 PM
$CPNG Dramatic metaphors are fun, but they don’t pay dividends. For something to be dismissible, it must first be replaceable—and Coupang is neither. Long term, this company isn’t going anywhere.
The “furious tide” you’re describing isn’t showing up in the data. Coupang still holds 33.19M monthly active users as of January 2026.
While you’re talking about “fuses,” data from Mobile Index (IGAWorks) and major credit card companies (KB Kookmin, Shinhan, Hana) shows any dip was temporary. Average daily spending is stabilizing. Both Mobile Index and credit card data confirm the so-called “exodus” narrative is failing.
Before the leak, average daily transactions were 78.7 billion won (
$59M). At the peak of the backlash, they dipped to 73.1 billion won (
$55M) before rebounding.
With 100+ irreplaceable logistics centers and a balance sheet capable of paying estimated fines entirely in cash, the “collapse” narrative doesn’t fit reality.
