Coupang Controversy: U.S. Investors Challenge South Korea Over Data Breach Fallout

Two major U.S. investors have called on the U.S. government to investigate South Korea's alleged discriminatory treatment of Coupang Inc. after a data breach affected millions. The investors argue that the response could escalate into international trade issues, urging fair play and restoration of business conditions.

Two leading U.S. investors have petitioned the U.S. government to scrutinize South Korea over accusations of discriminatory actions against Coupang Inc. following a consumer data breach impacting over 33 million customers. Investors claim that the South Korean government's response, including various investigations into Coupang, appears excessive.

Representatives from Greenoaks and Altimeter assert that South Korea might be overstepping its usual regulatory actions, potentially impacting international trade dynamics. They have filed arbitration claims under the U.S.–Korea Free Trade Agreement (KORUS) and urged the U.S. Trade Representative (USTR) to consider trade remedies such as tariffs.

Amidst these tensions, South Korea's leadership maintains that all actions are lawful and justified given the breach's scale. However, U.S. investors seek assurances of fair business practices, stressing that retaliatory measures could be mirrored if a similar incident occurred in the U.S.

(With inputs from agencies.)