Coupang challenges 162 billion won antitrust fine in Korean court

This photo shows Korean e-commerce giants delivery vehicles parked in downtown Seoul June 13 2024 Yonhap — This photo shows Korean e-commerce giant Coupang's delivery vehicles parked in downtown Seoul on June 13, 2024. Yonhap

SEOUL, September 10 (AJP) - Korea's leading e-commerce platform Coupang has filed an administrative lawsuit against the Korea Fair Trade Commission (KFTC), contesting a record fine of about 162 billion won ($120 million) for alleged unfair business practices, market insiders said on Tuesday.

The legal action, initiated on Sept. 5 at the Seoul High Court, seeks to overturn both the corrective order and the monetary penalty imposed by the antitrust regulator last month.

The KFTC accused Coupang of manipulating search algorithms and using employee reviews to misleadingly promote its private-brand products, potentially influencing consumer behavior. The fine is the largest ever levied against a Korean retailer.

Coupang had previously warned the KFTC in June that the fines and complaints could lead to halting its fast delivery service and investment plans.

Kim Dong-young davekim0807@ajupress.com

Coupang challenges 162 billion won antitrust fine in Korean court

Related

Korea to provide 1.6 trillion won in financial support to vendors hit by e-commerce payment delays

Korea, Paraguay sign trade, investment framework agreement