Watchdog's probe into Coupang stalls after inspection refusal
The fair trade watchdog's probe into the Korean arm of U.S.-listed Coupang Inc. appears to have hit a setback after the e-commerce giant refused investigators' recent attempts to conduct on-site inspections, citing procedural issues, industry sources said Thursday. According to sources, the Fair Trade Commission (FTC) had planned to conduct on-site inspections of Coupang's Korean unit from last…
The Fair Trade Commission (FTC) investigation into Coupang Inc.'s Korean operations has reportedly come to a halt due to the e-commerce company's refusal to allow on-site inspections, according to industry sources. The FTC had intended to carry out inspections from the previous week to this week, focusing on alleged violations of the Act on Fair Transactions in Large Retail Business. The investigation hinges on suspicions that Coupang transferred the expenses associated with discounts to its suppliers.
Coupang's spokesperson stated that the firm had not received the necessary seven-day advance notice of the inspections, a requirement under the Framework Act on Administrative Investigations aimed at safeguarding the rights and interests of those under investigation. The company cited procedural issues as the reason for refusing the inspections. Coupang intends to pursue a court ruling regarding the matter, as reported by industry sources.
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- Watchdog's probe into Coupang stalls after inspection refusal en.yna.co.kr
- Watchdog's probe into Coupang stalls after inspection refusal koreatimes.co.kr
