The Korea Times
Coupang founder Kim Bom-suk faces mounting regulatory scrutiny from the Korean government, as Fair Trade Commission (FTC) mulls designating him the de facto controller of the e-commerce firm. The FTC is scheduled to determine Wednesday whether to designate Kim, who also serves as chairman of the board of Coupang Inc., as the group’s “same person” — a legal term referring to the individual who effectively controls a conglomerate. Once designated as the controlling figure, he would face a wider range of regulatory scrutiny, requiring not only him but his relatives to submit extensive disclosures and comply with detailed investigations by the authorities. However, it remains to be seen whether the FTC will do so, as the move may trigger strong objections from the United States and potentially reignite trade friction between Seoul and Washington. Those in favor of increased regulation argue that such a move could help address lingering concerns surrounding Coupang, such as worker deaths at its logistics centers, data privacy breaches and a broad range of governance issues. “We colle
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