Coupang’s Bom Kim Named to Fast Company’s “100 Most Creative People in Business”
SEOUL, South Korea--(BUSINESS WIRE)--May 23, 2019--
Today Fast Company named Bom Kim, CEO of Coupang, as #23 on its 10th annual list of the Most Creative People in Business. Coupang is one of the world’s largest and fastest-growing e-commerce companies, with operations in Korea, the US and China. Fast Company recognized Kim for the way Coupang has transformed e-commerce in Korea, building a last-mile delivery service that provides customers nationwide with the ability to receive millions of products within hours.
The company’s “dawn” delivery service, in particular, is a new solution to address the everyday issues of life in Korea. The country is densely populated and, with urban commuting, shopping can be difficult for families that spend long hours at work or school. Coupang created a shopping and fulfillment system that enables consumers to shop on their mobile devices after they get home in the evening. Orders placed before midnight appear at the customer’s front door by 7 a.m. the following morning, allowing busy parents to submit an order before going to bed and receive food in time for breakfast or school supplies before children leave for their day.
In addition to rapid delivery and an industry-leading selection of tens of millions of products, Coupang has deployed artificial intelligence to help customers easily find items on Coupang’s app. When customers are ready to complete a purchase, Coupang provides the only one-touch mobile payment service in Korea that doesn’t require password entry or a fingerprint. This convenient payment option has also been recognized for its leading fraud detection system.
Coupang also set a new standard for product packaging. Because Coupang operates an end-to-end fulfillment system for millions of parcels, the company has been able to design processes that protect the environment and reduce waste. More than half of the company’s deliveries arrive at customers’ doors without using cardboard boxes. Reducing packaging enhances truck-loading efficiency, cuts carbon emissions and landfill volume, and eliminates the hassle customers experience in disposing of excess packaging.
“Our goal is to make our customers’ lives so much better that they can’t imagine living without Coupang,” said Kim. “We’re not trying to deliver an incremental improvement. We want to revolutionize our customers’ lives. We can never forget that goal. It guides all of our work. Every day we’re looking for new solutions, new services, and new ways of making life simpler and more convenient. That drive to help customers is the inspiration for every innovation we achieve.”
Fast Company editors and writers spend a year researching candidates for the list, scouting every sector of business: technology, fashion, cybersecurity, biotech, entertainment, beauty, social good, food, data, consumer goods, and more. The people selected have accomplished something truly innovative within the past 12 months that is having a meaningful effect within their industries.
To see the complete list go to: fastcompany.com/most-creative-people/2019
Introduced in 2009, the Most Creative People list was quickly established as one of Fast Company ’s most esteemed franchises. Each year, the magazine’s editors present an all-new list of 100 people chosen according to a proprietary methodology.
Fast Company ’s Most Creative People in Business issue (Summer 2019) is available online now at fastcompany.com/most-creative-people/2019 and on newsstands beginning June 4. Join the Most Creative People conversation using #FCMostCreative.
ABOUT FAST COMPANY
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies and thinkers on the future of business. Since 2011, Fast Company has received some of the most prestigious editorial and design accolades, including the American Society of Magazine Editors (ASME) National Magazine Award for “Magazine of the Year,” Adweek ’s Hot List for “Hottest Business Publication,” and six gold medals and 10 silver medals from the Society of Publication Designers. The editor-in-chief is Stephanie Mehta and the publisher is Amanda Smith. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication, Inc., and can be found online at fastcompany.com.
Coupang is one of the largest and fastest-growing e-commerce companies in the world. Its innovative technologies and novel approach to mobile commerce and customer service have set a new standard for e-commerce in Korea and beyond. Powered by its proprietary technology infrastructure, Coupang offers the largest end-to-end fulfillment operation in Korea and one of the most revolutionary last-mile delivery services in the world. Founded in 2010, Coupang is a global company with offices in Beijing, Los Angeles, Seattle, Seoul, Shanghai, and Silicon Valley.
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PUB: 05/23/2019 12:38 PM/DISC: 05/23/2019 12:38 PM