ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Coupang Invests over $200M in Worker Health and Safety Initiatives Since 2020

Coupang today announced that it has invested over $200 million in worker safety initiatives and added over 600 safety employees since the beginning of 2020. This highlights the company’s commitment to setting the global standard for employee health and safety, which includes comprehensive initiatives and policies such as a driver’s workweek estimated to be nearly 30% less hours than the logistics industry average and a paid program for workers to receive personal health services.

One such health and safety initiative is Coupang Care, the first paid health promotion program in the industry. The program launched in late April and enables workers, including drivers and fulfillment center (FC) workers, to receive health education and personalized plans from experts on topics such as exercise and stress management, while continuing to receive full salary and benefits. In a survey of the first program participants, 60% showed improved blood pressure, blood sugar, or waist circumference in just four weeks. Nearly 45% of participants with abdominal obesity returned to a normal waist circumference and 37% of participants with hypertension had a notable reduction in symptoms.

Coupang has also been taking active measures to support employees and their safety during the current heatwave, which is the worst in Korea since 2018. The company has installed additional cooling systems to the company’s 100+ logistics centers, including thousands of air circulators and mobile air conditioners. Coupang has also been monitoring heat conditions at its centers to ensure frontline employees are sufficiently rested and safe to work.

In addition, the company continues to implement some of the most stringent COVID-19 measures in the industry to protect its employees. Coupang’s typical policy is to shut down a logistics center even if just one employee there tests positive for COVID, reopening sites only in consultation with local health authorities. Although this has led to dozens of shutdowns in the past year, Coupang continues to adhere to the policy to ensure the safety of its employees during the pandemic.

“Our employees, especially those on the frontline, form the backbone of our company,” said Ryan Brown, Coupang’s vice president of Environment Health and Safety. “In the same way they continually wow our customers, we strive to wow our employees, working to provide for them in every way. Our goal is to set the global standard for not just the best customer experience, but also the best employee workplace in terms of safety, working conditions, and benefits.”

As a part of Coupang’s commitment to creating the best workplace, the company offers all its drivers full-time employment. It is also the only major logistics company in Korea to directly employ 100% of its full-time drivers. While direct employment has far-reaching implications—for example, companies are required to report work-related injuries of employed drivers, but not work-related injuries of contracted drivers—this is another responsibility Coupang takes on in its commitment to its employees.

Coupang’s drivers also receive an industry-best five-day workweek, insurance and benefits from day one, and a minimum of 15 paid days off per year. This stands in sharp contrast to the rest of the Korean logistics industry, in which the vast majority of drivers are hired as third-party contractors, with six-day workweeks, no health insurance, national pension or benefits, and no paid time off. And last March, Coupang became the first company in Korea to make its frontline employees stockholders, providing over 39,000 frontline workers with restricted stock awards at its initial public offering.

About Coupang

Coupang is one of the largest e-Commerce companies in Asia, with a mission to revolutionize the everyday lives of its customers and create a world where people wonder, “How did we ever live without Coupang?” Coupang offers a variety of services, including same-day and next-morning delivery of groceries and general merchandise, delivery of prepared foods through Coupang Eats, and video streaming through Coupang Play. Coupang has offices in Beijing, Los Angeles, Seattle, Seoul, Singapore, Shanghai, Silicon Valley, Taipei, and Tokyo.

Contacts

Recent Quotes

View More
Symbol Price Change (%)
AMZN  230.92
+2.49 (1.09%)
AAPL  271.08
+0.11 (0.04%)
AMD  213.13
-1.82 (-0.85%)
BAC  56.05
+0.17 (0.31%)
GOOG  313.29
+1.96 (0.63%)
META  662.25
+0.75 (0.11%)
MSFT  485.95
+1.03 (0.21%)
NVDA  184.37
+0.68 (0.37%)
ORCL  192.84
-5.54 (-2.80%)
TSLA  486.71
-2.02 (-0.41%)
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.