Photo = Coupang

 

 

[Alpha Biz= Kim Jisun] South Korea’s National Assembly Speaker Woo Won-shik has strongly criticized U.S. Republican lawmakers for urging Seoul to halt what they described as “discriminatory regulation” against Coupang.

Speaking on April 24, Woo called the letter sent by members of the Republican Study Committee “clear interference in domestic affairs,” stressing that actions taken under Korean law must not be challenged by foreign political actors.

Woo defended the government’s review of designating Coupang founder Kim Bom-suk as the company’s “same person” (de facto controlling shareholder), saying the move is a legitimate legal measure in response to potential violations, including alleged data breaches and algorithm manipulation.

He also criticized Coupang directly, stating that companies operating in Korea must respect its laws and public sentiment, adding that it is unacceptable to profit in Korea while disregarding its legal framework.

The Fair Trade Commission is currently reviewing whether to designate Kim as the controlling entity, a decision due by May 1. Such designation would subject him and related parties to stricter disclosure and restrictions on unfair transactions.

Coupang has argued that the move constitutes discriminatory treatment against a U.S. company. Earlier, 54 Republican lawmakers sent a letter to South Korea’s ambassador to Washington calling for an end to such measures.

South Korea’s foreign ministry responded that any investigation or action against Coupang is being conducted in accordance with domestic law and due process, regardless of nationality.

 

 

 

 

AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)