Coupang Fined 3.3b Won for Violating S. Korean Antitrust Law (1)

Coupang is fined 3.3b won by South Korea’s Fair Trade Commission, which accused the company of unfairly engaging in vendors’ business activities and asking vendors to pay for advertising and marketing, according to FTC’s statement.

• FTC claims Coupang violated the antitrust law and the act on fair transactions for large retail businesses between 2017 and Sept. 2020
• FTC says Coupang asked vendors to increase product prices on rivals’ online shopping mall; requested vendors to pay for advertisement to make up Coupang’s margin loss; passed marketing costs onto vendors; received sales incentives from vendors that were not mentioned in annual contracts ...