Seoul, June 23 (IANS) South Korea’s fair trade watchdog on Tuesday approved voluntary corrective measures worth 3 billion won ($1.94 million) proposed by Coupang and its private-label affiliate over unfair dealings with subcontractors.The decision by the Fair Trade Commission (FTC) came after the watchdog’s probe found that Coupang and its wholly owned subsidiary, Coupang Private Label Brands (CPLB), had sought a consent decree to resolve the case without further legal proceedings.According to t…
Latest Coupang News & Updates
Seoul, June 11 (IANS) South Korea’s data protection regulator on Thursday fined e-commerce company Coupang a record 624.7 billion won ($410 million) over privacy violations, including a massive data breach that affected more than 37 million users.The Personal Information Protection Commission has decided to impose a record fine of 423.6 billion won for the data breach and levy an additional 201.1 billion won in fine for the unauthorised collection of records of online user activities and other v…
Seoul, May 6 (IANS) US-listed e-commerce giant Coupang said on Wednesday it swung to a net loss in the first quarter amid fallout from a massive customer data breach in South Korea.The company posted a net deficit of $266 million in the January-March period, compared with a net profit of $114 million a year earlier, Coupang said in a press release, reports Yonhap news agency.Coupang also turned to an operating loss of $242 million in the first quarter from a net profit of $154 million a year ago…
Seoul, April 29 (IANS) South Korea’s antitrust regulator on Wednesday newly designated Kim Bom, founder of US-listed e-commerce giant Coupang, as the company’s de facto controlling entity, placing him under stricter regulatory oversight.Kim, a U.S. citizen who also serves as chairman of the board, was designated as the “same person” of the group, a legal term referring to the individual who effectively controls a conglomerate, the Fair Trade Commission (FTC) said.The FTC’s decision comes as Coup…
Seoul, April 28 (IANS) Issues between close allies should be resolved based on mutual respect and fundamental principles, South Korea’s President Lee Jae Myung said Tuesday. Lee made the remarks during a Cabinet meeting at Cheong Wa Dae, stressing that “cooperation with traditional allies should also be developed.””(We) need the wisdom to build healthy, future-oriented relations with traditional allies, while resolving pending issues based on mutual respect, common sense and principles,” he told…
Seoul, Feb 26 (IANS) South Korea’s antitrust regulator said on Thursday it has imposed a fine of 2.19 billion won ($1.54 million) on e-commerce giant Coupang for pressuring suppliers to lower prices and cover advertising costs to meet its target profit margins.Coupang was also found to have delayed payments to suppliers and failed to pay late interest, violating the Act on Fair Transactions In Large Retail Businesses, the Fair Trade Commission (FTC) said.The FTC issued corrective orders to addre…
Seoul, Feb 25 (IANS) US-listed e-commerce giant Coupang said on Wednesday that around 200,000 Taiwanese accounts were leaked in a recent data breach that affected about 33 million accounts.The announcement came after Coupang requested cybersecurity firms Mandiant and Palo Alto Networks to carry out a comprehensive forensic investigation following the breach in November 2025, reports Yonhap news agency.”This was a crime committed by a former employee against Coupang and against our customers. Whi…
Seoul, Feb 11 (IANS) Science Minister Bae Kyung-hoon said on Wednesday that the government has been conducting a probe into the South Korean unit of US-listed e-commerce giant Coupang under principle without discrimination, refuting criticism from the US political circle.Bae made the remark during a parliamentary session, after the US House Judiciary Committee began investigating what it has called South Korea’s “discriminatory targeting” of American companies last Thursday (US time), reports Yo…
Seoul, Feb 7 (IANS) Harold Rogers, interim CEO of Coupang, returned early on Saturday after a 14-hour police questioning over allegations he committed perjury while testifying before the South Korean parliament in December.Rogers is accused of lying under oath during a parliamentary hearing from Dec. 30-31 on Coupang’s massive data breach that has affected more than 33 million customers in South Korea, reports Yonhap news agency.He told lawmakers that Coupang conducted its own probe into a Chine…
Seoul, Feb 6 (IANS) The interim chief executive of Coupang, Harold Rogers, was set to undergo police questioning on Friday over perjury allegations related to his testimony to lawmakers last year, marking his second appearance before investigators in a week.Police seek to question Rogers about allegations that he gave false testimony under oath about Coupang’s internal investigation into its massive data breach during a two-day parliamentary hearing on the leak in late December, reports Yonhap n…