KFTC Chief Vows To Resume Coupang Probe
Joo Byung-gi, chairman of the Korea Fair Trade Commission (KFTC), declared his determination to resume the on-site investigation of Coupang — which had been halted by a court ruling — as part of efforts to restore market order. Speaking on a radio broadcast on Sept. 29, Joo said he would “make every
Korea Fair Trade Commission (KFTC) Chairman Joo Byung-gi has vowed to resume the on-site investigation of Coupang following a court ruling. Speaking on a radio broadcast, Joo expressed his determination to "make every effort until the end to restore justice," acknowledging the damage caused by the suspension of the investigation.
The Seoul High Court recently rejected Coupang's application to halt the KFTC's on-site investigation, which had been carried out in August over suspected violations of the Act on Fair Transactions in Large Retail Business. Joo stated that the court's decision reflected the public's interest in protecting small business owners' rights and signaled that the investigation would be resuming promptly.
He also highlighted potential abuses of market dominance, including Coupang's self-preferencing practices and allegations of coercing merchants into disadvantageous transactions. Despite some U.S. political circles alleging discrimination against a U.S. company, Joo rejected these claims, asserting that they primarily originated from U.S. political circles and were not supported by major U.S. media outlets.
He emphasized that the KFTC's law enforcement capabilities are internationally recognized and that the commission has enforced the law more rigorously than other advanced economies' competition authorities. Joo criticized the commission structure of food delivery platforms in South Korea, attributing the high fee structure to an oligopolistic market.
He emphasized the urgent need for specialized legislation governing online platforms, noting that South Korea has yet to complete such legislation despite over three years of discussions. The KFTC plans to launch an investigation task force next month to examine Coupang, Naver, Kakao, and Baemin for potential abuse of market dominance and false advertising, as well as to revise rules governing investigation obstruction, with stricter procedures and regulations.
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