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…
Korea's top antitrust regulator, Ju Biung-ghi, has pledged to restore justice after a local court recently paved the way for the agency to resume its long-delayed investigation into U.S.-listed e-commerce behemoth Coupang Inc. During an interview with local radio broadcaster CBS, Ju expressed the FTC's intention to revive its probe into allegations that the company had unfairly shifted discount costs onto its suppliers.
In a recent development, Coupang had refused to cooperate with the FTC's on-site inspection, requesting a court suspension of the examination. However, the court initially granted a temporary reprieve but ultimately denied Coupang's request to halt the probe last week. Ju emphasized that the company's dealings with various vendors could lead to regulatory action if unfavorable terms were imposed.
He highlighted the judge's ruling in favor of public interest, particularly the rights of economically vulnerable parties and hundreds of thousands of small merchants.
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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