Coupang dispute raises stakes in Korea's $350 bil. US investment talks
Korean regulators’ hardline stance toward Coupang is complicating Seoul’s talks with Washington over the next stages of its planned $350 billion investment in the United States. The latest development came Wednesday when the Seoul High Court rejected Coupang’s request to suspend the effect of a Fair Trade Commission (FTC) decision ordering an on-site inspection of the U.S.-headquartered…
Seoul's high court has rejected Coupang's appeal to halt an FTC decision mandating an on-site inspection for alleged breaches of Korea's fair transaction act. The ruling clears the way for the FTC to continue its investigation. Coupang had refused to cooperate, contending that the FTC did not provide sufficient notice. The company's stance is in contrast to the FTC's chairman, Ju Biung-ghi, who has pledged to examine the agency's rules to eliminate what he perceives as loopholes that enable firms to delay or circumvent investigations via court injunctions.
He has also dismissed accusations of discrimination against American businesses, emphasizing that the FTC will persist in enforcing Korean law irrespective of nationality. This dispute is particularly contentious, as it unfolds amidst negotiations between Korea and the U.S. regarding the subsequent phases of a \$350 billion investment plan in the United States.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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