Coupang (CPNG) gained 7% in pre-open trading Friday after the company announced it would raise the monthly fee for its "WOW" membership by 58%.
Starting Saturday, the WOW membership price for new members will increase from 4,990 won to 7,890 won per month.
Meanwhile, the higher fee will be applied to existing clients from August.
Coupang had about 14 million WOW members at the end of 2023.
Shares of Coupang were up 18% year-to-date into today's boost on the WOW membership news.