South Korea fines Coupang $220 million for abusing dominance in food delivery market

​South ​Korea's antitrust regulator ‌said on ​Monday it was imposing a ‌300.8 billion won ($220.59 million) fine on e-commerce firm Coupang ‌for abusing its dominant position ‌in the food delivery market. The Korea Fair Trade Commission said ⁠Coupang ​required merchants ⁠to match favourable terms offered on ⁠rival platforms and penalised those ​that failed to comply, restricting competition ⁠in the delivery app sector.

The ⁠regulator ​said the practices harmed merchants' ability to set ⁠prices and other trading conditions ⁠independently ⁠and impeded rivals' business activities. ($1 = 1,363.6400 won)