South Korea Denies Discriminatory Claims Against Coupang Amid Investor Dispute

South Korean Prime Minister Kim Min-seok has dismissed claims of discrimination against U.S.-listed Coupang, countering two investors' allegations of unfair treatment. The investors have sought U.S. intervention over data breaches causing massive investor losses. South Korea denies discrimination, stating U.S.-Korea relations remain strong.

South Korean Prime Minister Kim Min-seok has firmly denied allegations of discrimination against Coupang, a U.S.-listed e-commerce company, during discussions with U.S. lawmakers. The issue comes amid a heated dispute with two prominent American investors, Greenoaks and Altimeter, accusing South Korea of bias following a significant data breach.

These investors have escalated their concerns by filing arbitration claims under the U.S.–Korea Free Trade Agreement and petitioning the U.S. government for action. They argue that the perceived unfair treatment contributed to the data leak impacting 33 million Coupang customers, resulting in substantial financial losses.

Prime Minister Kim emphasized the trust-based U.S.-Korea relationship, asserting that the actions were not driven by discrimination. He related it to other international incidents, refuting claims of bias. Meanwhile, South Korea's Justice Minister committed to carefully reviewing the legal aspects of Coupang's notice and actively responding to the situation.

(With inputs from agencies.)