Chairman Joo Byungki: "Possibility of Business Suspension for Coupang Remains Open"

"Mobilizing All Means Including Dispute Mediation and Litigation Support"

Joo Byungki, Chairman of the Fair Trade Commission. Photo by Yonhap News

Joo Byungki, Chairman of the Fair Trade Commission, stated that he is "keeping open the possibility of ordering a business suspension" for Coupang, following the massive leak of customer information.

On the afternoon of December 19, appearing on KBS's 'Newsline W,' Chairman Joo explained the response to Coupang's personal information leak, saying, "We are mobilizing all available means, such as dispute mediation and litigation support, to provide relief for affected consumers," and expressed this position.

However, Chairman Joo explained that it must first be confirmed that consumer information was misused during online transactions, and it is necessary to determine whether consumers have suffered financial damage or are at risk of such damage as a prerequisite procedure.

Chairman Joo added that if consumers have suffered financial damages, measures to recover them must be required of Coupang, and if Coupang fails to implement these measures appropriately, a business suspension order could be issued.

However, he also mentioned the possibility that a business suspension order may ultimately not be issued, stating, "If a business suspension would harm consumers, an alternative could be to impose a fine instead."

Chairman Joo emphasized that a joint investigation team is currently conducting an investigation, and stated, "The first priority should be to hold those responsible for the personal information leak accountable."

Regarding the plan to secure the Fair Trade Commission's compulsory investigative authority, which he reported to President Lee Jaemyung, he said, "We will prepare measures to strengthen investigative powers in line with the purpose of enhancing the effectiveness of administrative sanctions."