Photo: en.yna.co.kr
Coupang Faces Highest FTC Fines Among Korean Conglomerates in Recent Years
Coupang faces unprecedented fines from the Fair Trade Commission (South Korea), totaling 162.8 billion won, spotlighting regulatory scrutiny in South Koreas e-commerce sector.
- Coupang was fined 162.8 billion won (US$114.3 million) by the Fair Trade Commission (South Korea) from early 2022 to mid-2023, the highest among conglomerates.
- The report detailing Coupangs fines was presented to Rep. Choo Kyung-ho of the People Power Party (South Korea), emphasizing ongoing regulatory challenges for major companies.
- The substantial fines against Coupang reflect growing scrutiny on conglomerates in South Korea, paralleling similar actions against other industry leaders like Hyundai Department Store Group.
Why It Matters
These fines signal increasing regulatory pressure on major e-commerce players like Coupang, highlighting the South Korean governments commitment to fair market practices and consumer protection amid rapid industry growth.