Fair Trade Commission Chief: "Reviewing Whether Bom Kim of Coupang Should Be Designated as Conglomerate Owner"

"Coupang Exploiting Legal Loopholes for Profit...
Business Suspension Possible if Consumer Remedies Fail"

On January 12, Joo Byungki, Chairman of the Fair Trade Commission, stated regarding various alleged unfair practices by Coupang, including the recent personal data leak, "Coupang is employing a business model that exploits legal loopholes for profit." He also revealed that the Commission is currently reviewing whether to designate Bom Kim, Chairman of Coupang Inc., as the ultimate decision-maker (owner) of the company.

Joo Byungki, Chairman of the Fair Trade Commission, is reporting on the work of the Fair Trade Commission at the National Assembly's Political Affairs Committee audit held on the 14th. 2025.10.14 Photo by Kim Hyunmin

Appearing on the YouTube program "Kim Eo-jun's Humility Is Hard News Factory" that day, Chairman Joo said, "We plan to thoroughly examine whether Chairman Kim's relatives are involved in management," adding, "If it is confirmed that relatives are participating in management, the designation of the ultimate decision-maker can be changed from the corporation to the individual."

This means the Commission intends to re-examine the exceptional case in which Coupang Inc. was designated as the ultimate decision-maker, rather than Bom Kim, who is widely viewed as the actual controlling figure of Coupang. Until now, the Commission had determined that the exception applied because no relatives were involved in management. However, recent allegations have surfaced that Kim Yuseok, Bom Kim's younger brother and a vice president, has received up to 14 billion won (approximately 14 million USD) in compensation over four years while serving at the company.

Regarding the possibility of a business suspension order for Coupang, Chairman Joo said, "We will determine whether any harm to consumers is expected due to the personal data leak and what remedies are available, and will issue a corrective order to Coupang accordingly." He emphasized, "If Coupang fails to implement the corrective order, or if the order does not adequately address consumer harm, a business suspension order is also possible."

He continued, "We are investigating a variety of incidents related to Coupang," and added, "We have recently completed a review of predatory practices that shift losses from lowest-price sales onto suppliers, and will soon announce the results." He also explained that investigations have been completed or are underway regarding deceptive advertising of the Wow Membership program and practices that make membership cancellation difficult.

Regarding the enactment of the Online Platform Act, Chairman Joo said, "Platform-specific pricing strategies such as 'dynamic pricing,' where prices are frequently adjusted according to market conditions, are difficult to regulate under current law," and stressed, "There is a need to revise laws to suit the platform industry."

On ongoing collusion cases in sectors closely tied to people's livelihoods, he said, "The raw materials and food ingredient markets remain highly monopolized, so collusion has a significant impact on consumers." He added, "Investigations into sugar and pork price-fixing cases were completed in October last year, and we are now in the process of hearing the respondents' opinions."

The Fair Trade Commission has also recently identified and is investigating allegations of collusion in the domestic starch sugar market. The market is dominated by four companies-Daesang, Samyang, Sajo CPK, and CJ CheilJedang-all of which are reportedly under investigation by the Commission.