Coupang to apply increased membership fees to all paid users next month

South Korean e-commerce giant Coupang Inc. said Monday it will apply increased monthly membership fees for all paid users from Aug. 7. Since April 13, Coupang has charged its new paid WOW membership users 7,890 won (US$5.70), sharply up from the previous 4,990 won. The company said it will also raise the monthly fees for existing members in August. Back then, Coupang members were divided over the steep increase in membership costs. Some said they are so addicted to Coupang's "rocket delivery" services that they cannot withdraw from the membership, while others said a 58 percent hike at a time is excessive. Previously, the monthly fee saw a 72 percent hike to 4,990 won from 2,900 won in 2021. The number of WOW members had stood at around 14 million as of the end of 2023. If there are no withdrawals from the membership, Coupang's paid membership fees will jump 57 percent to 1.32 trillion won a year from 838.8 billion won. Coupang's new services, such as streaming platform Coupang Play and food delivery service Coupang Eats, has helped the company boost users in South Korea. Source: Yonhap News Agency