[REVISION HISTORY]

Incheon Coupang logistics center fire investigation and loss

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2026-11-04 04:16 UTC → 2026-11-04 05:26 UTC · added ~~removed~~

The investigation into the massive fire at the Coupang 32 logistics center in Seoknam-dong, Incheon, has concluded. The Incheon Metropolitan Police Agency found no evidence of arson, negligence, or violations of the Fire Services Act. While the National Forensic Service suggested the blaze may have been caused by insulation failure in a lithium-ion battery cell within an unidentified device on the sixth floor, the exact ignition source could not be definitively identified due to severe fire damage. Investigators confirmed that fire suppression systems, including sprinklers and shutters, operated as intended. The incident, which began in July, resulted in an estimated 114 billion won in property damage. In response, police intend to propose institutional improvements to the Ministry of Land, Infrastructure and Transport and the Fire Agency. These include new regulations regarding the charging of batteries during shipment, guidelines for separating battery-containing items from flammable materials, and the retroactive application of strengthened fire safety standards to large-scale warehouses. Financially, the fire has significantly impacted Coupang Inc. The company reported record third-quarter revenue of approximately $9.962 billion, yet recorded an operating loss of $450 million (642.3 billion won). This deficit was heavily influenced by approximately $248 million (354 billion won) in costs related to the Incheon logistics center fire. ~~Even without these fire-related expenses,~~ Additionally, the company ~~reported an estimated operating loss of $202 million.~~ faced financial impacts from a large-scale data breach and increased marketing and supply chain costs. For the first three quarters of the year, Coupang Inc recorded a total operating loss of 1.83 trillion won (approximately $1.3 billion), a figure nearly equivalent to the total operating profit earned by the company between 2023 and 2025. Chairman Bom Kim stated that current performance issues are temporary and not structural, noting that profitability in core commerce is expected to recover toward pre-incident levels by mid-next year.

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