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Softbank To Invest $1 Billion In Korean E-Commerce Site Coupang


Ron Burgundy
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Pedestrians walk past logos of SoftBank Corp in front of its branch in TokyoJapanese telecoms group SoftBank Corp is investing $1 billion in South Korean online retailer Coupang as part of a plan to step up its overseas expansion and as it struggles to turn around U.S. carrier Sprint which it bought in 2013. SoftBank has been turning to overseas deals for growth amid a lacklustre Japanese economy and shrinking demographics. The latest move comes two days after SoftBank said it had increased its controlling stake in Supercell, the Finnish mobile games maker best known for its hit title 'Clash of Clans'.




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