FSS Extends Coupang Pay and Coupang Financial Inspections Again... "Thorough Review of Regulatory Violations"

Coupang Pay Inspection Extended by One Week
Further Review for Coupang Financial
Coupang Pay: Focus on Customer Data Leak
Coupang Financial: Investigation into Unsecured Loans

The Financial Supervisory Service (FSS) has decided to extend its on-site inspection of Coupang Pay by one more round than originally planned, continuing until February 6. The inspection period for Coupang Financial, which came under scrutiny for charging platform sellers interest rates comparable to those of loan sharks, has also been extended.

Yonhap News

According to the financial sector on January 30, the FSS has decided to extend the inspection of Coupang Pay by an additional week, until February 6. An FSS official stated, "There are still areas that need to be verified, so we plan to extend the inspection," adding, "It is difficult to provide specific details regarding the inspection contents."

The core focus of the FSS inspection of Coupang Pay is whether customer personal information was inappropriately shared or leaked within the Coupang Pay system, which is connected to Coupang's headquarters via the 'One ID, One Click' integration. 'One ID, One Click' refers to Coupang's integrated login policy that allows users to manage multiple services with a single ID.

Previously, the FSS conducted a six-week on-site review of Coupang Pay starting in November last year, and then transitioned to a formal inspection on December 12. During the on-site review, the inspection period was already extended once, as Coupang Pay failed to submit requested materials in a timely manner. The FSS is closely examining the connection between the leak of 33.7 million customer account details that occurred in November 2025 and Coupang Pay's payment services.

The inspection of Coupang Financial has also been extended. An FSS official said, "There are additional areas to review regarding regulatory violations," and added, "While it is true that the inspection has been extended, it is difficult to confirm the specific inspection deadline."

Coupang Financial has reportedly sold high-interest loan products to platform sellers, with particular concern raised over the Coupang Seller Growth Loan. This product was reportedly offered to Coupang marketplace sellers for up to 50 million won at an annual interest rate of up to 18.9%.

The FSS is examining whether Coupang Financial imposed excessively high interest rates on sellers based on its dominant market position. The agency is also focusing on whether Coupang Financial provided these products as unsecured loans while using sellers' settlement funds as collateral.

An FSS official stated, "We have decided to extend the inspection of Coupang Financial, but it is difficult to disclose the specific timeline," adding, "We are comprehensively reviewing issues such as market dominance and whether the loans were unsecured."