FTC chief vows to 'restore justice' as court clears way for Coupang probe
The chief of Korea's antitrust watchdog said Tuesday he will work to "restore justice" after a local court recently cleared the way for the agency to resume its stalled probe into U.S.-listed e-commerce giant Coupang Inc. Ju Biung-ghi, head of the Fair Trade Commission (FTC), made the remarks during an interview with local radio broadcaster CBS, signaling the agency's intention to resume its…
The head of Korea's antitrust watchdog, Ju Biung-ghi, pledged on Tuesday to restore justice after a local court recently cleared the path for the agency to resume its delayed investigation into e-commerce giant Coupang Inc. The chief's remarks came during an interview with local radio broadcaster CBS, indicating the FTC's determination to restart its probe.
In the previous month, Coupang declined to cooperate with the watchdog's on-site investigation into allegations that the company had passed on the costs of discounts to its suppliers, requesting a court injunction to halt the inspection. Initially, the court temporarily suspended the FTC's on-site probe, but it eventually denied Coupang's request to halt the investigation last week.
Ju stated that Coupang interacts with various vendors, and the company may face regulatory action if it imposes unfavorable terms on them. He emphasized that the court's decision to rule in favor of the public interest, including the rights of economically vulnerable entities and hundreds of thousands of small merchants, is a relief.
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