The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    INTERVIEWAhn Hyo-seop wanted to share dedicated love with 'A Time Called You'

  • 3

    Distraught roller skater apologizes for costly premature celebration

  • 5

    S. Korea wins 1st table tennis gold in 21 yrs

  • 7

    Heavy traffic jams mostly eased on 5th day of holiday

  • 9

    LA-based photographer captures Koreatown unfazed by pandemic

  • 11

    INTERVIEWIt is premature to revise ROK-US mutual defense treaty: veterans' group head

  • 13

    Korea picks up 2 medals in table tennis as gold drought continues

  • 15

    Public transit fares to increase in Seoul and Busan this week

  • 17

    Shin-Hanul No. 2 nuclear reactor begins testing for full operation next year

  • 19

    4 injured in rockfall at tourist attraction on eastern island of Ulleung

  • 2

    Korea's Coast Guard apprehends 22 Chinese after illegal entry attempt

  • 4

    SHINee launches first Japan tour in 5 years

  • 6

    Korea makes last-ditch bid to host World Expo 2030 in Busan

  • 8

    Consumers to face higher prices for daily necessities after Chuseok

  • 10

    Samsung chief visits Middle East to explore new businesses

  • 12

    No regrets for roller skaters after taking silver in relay

  • 14

    National Assembly speeds up efforts to outlaw dog meat consumption in Korea

  • 16

    'Dr. Cheon and Lost Talisman' tops Chuseok holiday box office

  • 18

    Internet-only banks outperform legacy lenders in labor productivity

  • 20

    Ruling party vows to investigate China's alleged influence operations

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
Wed, October 4, 2023 | 09:56
Retail & Food
Coupang fined $2.8 mil. for unfair business practices
Posted : 2021-08-19 16:29
Updated : 2021-08-19 17:31
Yi Whan-woo
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Cho Hong-sun, a senior Korea Fair Trade Commission (KFTC) official, speaks during a press briefing on a punitive measure taken against e-commerce giant Coupang at the Government Complex Sejong, Thursday. Yonhap
Cho Hong-sun, a senior Korea Fair Trade Commission (KFTC) official, speaks during a press briefing on a punitive measure taken against e-commerce giant Coupang at the Government Complex Sejong, Thursday. Yonhap

E-commerce giant plans to file administrative suit against punitive measure

By Yi Whan-woo

Coupang has been fined 3.29 billion won ($2.81 million) by the country's top antitrust regulator, Thursday, for its alleged involvement in unfair business practices and interfering in the business of vendors.

The Korea Fair Trade Commission (KFTC) said the e-commerce giant was found to have forced hundreds of sellers from early 2017 to September 2020 to comply with its unlawful sales and marketing policies to maintain its competitive edge over other online retailers amid the fierce battle for market dominance.

Those affected by such policies include LG Household & Health Care, Yuhan Kimberly, Maeil Dairies, Namyang Dairy Products and Cuchen.

The KFTC carried out its probe into Coupang after LG Household & Health Care, an LG Group affiliate, filed a complaint in 2019.

According to the antitrust watchdog, Coupang had urged its suppliers to raise sales prices of its goods sold in rival online malls to ensure that it could offer those products at the cheapest prices.

It additionally coerced suppliers to purchase ads and put the burden of expenses for promotional events on them. For instance, a total of 388 suppliers had to pay 5.7 billion won combined after Coupang offered discount coupons on daily necessities and baby products.

"The case is noteworthy as it illustrates that an online retailer is now in a predominant position over large companies as well as manufacturers of popular goods," Cho Hong-sun, a senior KFTC official, said during a briefing at Government Complex Sejong.

It noted such a case has only been witnessed in the past among department stores and supermarket chains that are mostly owned by conglomerates.

It also noted about 70 percent of domestic shoppers buy goods online and that its punitive measure against Coupang is "meaningful in uncovering and curbing new forms of unlawful trade."

Coupang, which denied its predominant position over the large firms during the KFTC investigation, expressed regret over the regulator's decision, saying that it will lodge an administrative suit in response.

Cho Hong-sun, a senior Korea Fair Trade Commission (KFTC) official, speaks during a press briefing on a punitive measure taken against e-commerce giant Coupang at the Government Complex Sejong, Thursday. Yonhap
A gigantic banner bearing the name of Korean e-commerce giant Coupang is displayed on the building of the New York Stock Exchange on March 11, to mark its debut on the U.S. stock market. Korea Times file

While Coupang saw its sales expanding by 60 percent every year, it has been posting operating losses due to increased hiring and investment.

The KFTC's punitive measure adds to controversies surrounding Coupang in relation to corporate responsibility and joint prosperity with society.

The company has recently been criticized for poor industrial safety, with a blaze at its warehouse in July and deaths of overworked delivery workers being cited as examples.


Emailyistory@koreatimes.co.kr Article ListMore articles by this reporter
 
wooribank
LG
Top 10 Stories
1Public transit fares to increase in Seoul and Busan this week Public transit fares to increase in Seoul and Busan this week
2Ruling party vows to investigate China's alleged influence operationsRuling party vows to investigate China's alleged influence operations
3Genesis GV80 Coupe looks to compete with Mercedes-Benz, BMW Genesis GV80 Coupe looks to compete with Mercedes-Benz, BMW
4Korean steelmakers on alert over initiation of EU carbon border tariff Korean steelmakers on alert over initiation of EU carbon border tariff
5Hyundai, Kia to extend earnings rally on strengthening dollar, solid sales Hyundai, Kia to extend earnings rally on strengthening dollar, solid sales
630 out of 74 major financial companies lack female board member30 out of 74 major financial companies lack female board member
7Korean shipbuilders seek lead over Chinese rivals in selling LNG carriers to Qatar Korean shipbuilders seek lead over Chinese rivals in selling LNG carriers to Qatar
8Lawmakers want chairmen of financial firms held accountable over misconduct Lawmakers want chairmen of financial firms held accountable over misconduct
9Dong-A Socio Group's honorary chairman passes away at 96 Dong-A Socio Group's honorary chairman passes away at 96
10Returning home from Chuseok holiday Returning home from Chuseok holiday
Top 5 Entertainment News
1TREASURE takes flak for excluding Dokdo from its Japan tour map TREASURE takes flak for excluding Dokdo from its Japan tour map
2Two artists' windows to light and serenity Two artists' windows to light and serenity
3Crime thriller, romance series set to roll out in October Crime thriller, romance series set to roll out in October
4[INTERVIEW] Ahn Hyo-seop wanted to share dedicated love with 'A Time Called You' INTERVIEWAhn Hyo-seop wanted to share dedicated love with 'A Time Called You'
5'Dr. Cheon and Lost Talisman' tops Chuseok holiday box office 'Dr. Cheon and Lost Talisman' tops Chuseok holiday box office
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group