South Korea fines Coupang $220 million for abusing dominance in food delivery market
On November 9, South Korea's antitrust regulator announced a 300.8 billion won ($220.59 million) fine against e-commerce giant Coupang for abusing its dominant market position in food delivery services. The Korea Fair Trade Commission (KFTC) alleged that Coupang compelled merchants to match advantageous terms offered on competing platforms, while penalizing those who refused to comply.
This restriction on competition in the delivery app sector was deemed to have harmed merchants' independence in setting prices and other trading conditions, as well as impeded the business activities of rival companies.
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