Softbank to invest $1 billion in Korean e-commerce site Coupang

Reuters News
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Posted: Jun 03, 2015 2:41 AM

TOKYO (Reuters) - Japan's Softbank Corp <9984.T> will invest $1 billion in South Korean online retailer Coupang, with the deal expected to close in July, both companies said on Wednesday.

The investment would raise to around $1.5 billion the amount of money Coupang has raised so far this year, the companies said in a joint statement.

(Reporting by Ritsuko Ando; Editing by Miral Fahmy)