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Fair Trade Commission Chair Joo Byung-ki says a business suspension for Coupang is possible. The photo shows Joo (second from left) questioning officials after receiving work briefings from affiliated agencies, including the Korea Consumer Agency, at the Government Complex Sejong on Monday. / Yonhap News |
South Korea’s antitrust watchdog said Monday it is reviewing the possibility of suspending operations at Coupang following a recent personal data breach, signaling a hard-line approach to pressure the e-commerce giant into fully compensating affected consumers.
Joo Byung-ki, chair of the Fair Trade Commission, said in a YouTube interview that a business suspension is “under review,” adding that such a measure could be imposed if corrective orders fail to lead to meaningful consumer relief.
“Investigations by a joint public-private task force involving the Ministry of Science and ICT and the Personal Information Protection Commission are under way,” Joo said. “Before any decision is made, we must determine what information was leaked and what kind of harm consumers may face.”
Joo noted that once the investigation concludes, the commission will assess whether Coupang is capable of compensating victims and what form that relief should take before issuing corrective orders. If those orders are ignored or deemed insufficient, he said, a business suspension could follow.
The FTC is also closely examining whether Kim Beom-su should be designated as Coupang’s controlling shareholder, or “same person,” a status that would trigger expanded disclosure obligations covering not only the executive himself but also his relatives’ shareholdings and transactions.
Currently, the FTC has designated Coupang’s corporate entity — not Kim — as the controlling party, citing a lack of evidence that Kim or his family directly participates in management or holds stakes in domestic affiliates. Joo said this year’s annual review will scrutinize whether Kim or his relatives are involved in management, a finding that could prompt a change in designation.
Joo also pointed to other alleged unfair practices, including shifting losses from low-price sales onto suppliers — behavior he described as “predatory.” He said the commission is preparing to announce the results of a related review soon.
Additional probes are under way into allegations that Coupang misled consumers about discounts offered through its Wow membership, forced preferential treatment clauses on merchants using its delivery app, and made membership cancellation procedures overly complicated. Joo said the investigation into the withdrawal process will be concluded shortly.
Separately, the FTC is taking a tougher stance on price-fixing cases affecting daily necessities such as sugar, pork, flour, eggs and starch syrup. Joo said the commission plans to raise penalty standards for abuses of market dominance to levels comparable with those in advanced economies.
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