SEOUL, Jan. 2 (Korea Bizwire) — Online shopping sales in South Korea jumped 6.8 percent from a year earlier to a record high in November, driven by strong demand for food-related services, data showed Friday. The value of online shopping transactions stood at 24.15 trillion won (US$16.75 billion) in November, up 1.53 trillion won from [...]
SEOUL, Dec. 31 (Korea Bizwire) — The interim head of Coupang Corp., the South Korean unit of U.S.-listed Coupang Inc., said Wednesday that the company’s compensation plan for a recent data breach will not include any conditions requiring customers to waive their right to file lawsuits against the e-commerce giant. Responding to a question from [...]
SEOUL, Dec. 31 (Korea Bizwire) — Coupang disclosed the results of its controversial internal probe into a massive data breach directly to U.S. regulators without prior coordination with the South Korean government, according to filings reviewed Tuesday. In a submission to the U.S. Securities and Exchange Commission dated Monday, the U.S.-listed e-commerce giant said that [...]
SEOUL, Dec. 30 (Korea Bizwire) — The National Intelligence Service (NIS) on Tuesday dismissed the interim chief of Coupang Corp.’s claim that the company conducted an internal probe into a massive data leak upon its order and requested the National Assembly to file a complaint against the executive over alleged perjury. The move came after [...]
SEOUL, Dec. 29 (Korea Bizwire) — Customs authorities on Monday launched an investigation into Coupang Inc.’s domestic unit to examine foreign exchange transactions with its U.S.-based headquarters, government sources said. The Korea Customs Service dispatched an investigative team to the e-commerce giant’s office in Seoul earlier in the day, the sources said. The probe will [...]
SEOUL, Dec. 28 (Korea Bizwire) — Kim Bom-seok, the founder and board chairman of Coupang Inc., has again drawn criticism in South Korea after notifying lawmakers that he will not attend a joint parliamentary hearing scheduled for Dec. 30–31 over a recent mass data breach at the company. Kim, who holds roughly 70 percent of the [...]
SEOUL, Dec. 26 (Korea Bizwire) — South Korea’s National Human Rights Commission said on Friday that Coupang, the country’s largest e-commerce platform, has refused to comply with its recommendation to broaden the hiring of foreign delivery workers, adding to scrutiny already facing the company over a recent personal data leak. The commission said it decided [...]
SEJONG, Dec. 25 (Korea Bizwire) — South Korea’s Fair Trade Commission said on Thursday that major online platforms and retailers have sharply increased the financial burdens placed on suppliers, with Coupang emerging as one of the largest recipients of supplier-funded promotional payments. According to a government survey of 40 major retailers across eight distribution sectors, Coupang [...]
SEOUL, Dec. 23 (Korea Bizwire) — A special counsel team raided a subsidiary of e-commerce giant Coupang Inc. on Tuesday, launching a compulsory investigation into allegations of unpaid severance pay for employees and senior prosecutors’ intervention in favor of the management. Special counsel Ann Gweon-seob sent prosecutors and investigators to the office of Coupang Fulfillment [...]
SEOUL, Dec. 22 (Korea Bizwire) — A large majority of South Koreans believe food delivery platforms should be the first targets of government regulation, reflecting growing public frustration over rising delivery fees and platform commissions, according to a new nationwide survey. More than 87 percent of respondents said they agree that delivery apps require stronger oversight, [...]