KFTC Announces Its Decision, in the Previously Disclosed Investigation on Coupang, Inc
June 14, 2024 at 03:59 pm
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On June 12, 2024, the KFTC announced its decision, in the previously disclosed investigation, that Coupang, Inc.'s search ordering a practice in line with all e-retailers in Korea and globally is deceptive and violates Korean law. The KFTC announced a provisional administrative fine and intends to direct the Company to take certain related corrective actions. The Company does not believe that its practices are deceptive or violate any Korean laws, and will vigorously appeal the KFTC's determination in court.
Coupang, Inc. owns and operates a retail business, which primarily serves the Korean retail market. Through its mobile applications and Internet websites, it offers products and services that span a range of categories, including home goods and decor, apparel and beauty products, fresh food and grocery, sporting goods, electronics, everyday consumables, travel, restaurant order and delivery, content streaming, and advertising. Its Product Commerce segment primarily includes core Korean retail (owned inventory) and marketplace offerings and Rocket Fresh, its fresh grocery offering, as well as advertising products associated with these offerings. Its Developing Offerings segment primarily includes more nascent offerings and services, including Coupang Eats, its restaurant ordering and delivery service in Korea, Coupang Play, its online content streaming service in Korea, fintech, its retail operations in Taiwan, as well as advertising products associated with these offerings.
COUPANG, INC. 