South Korea & Coupang

South Korea: South Korea is accused by the United States — United States House Committee on the Judiciary of discriminating against US-owned businesses, particularly Coupang, through 'coercive investigation tactics' and 'unfair regulations'. This has led to diplomatic tensions and potential violations of trade agreements.

Coupang: Coupang, a US-listed e-commerce giant, has been the target of numerous investigations and a record fine in South Korea following a data breach. The company's market capitalization has declined by over 40% due to these actions, and it is now seeking a constructive resolution to strengthen US-Korea trade relations.

South Korea: South Korea will receive a new US ambassador, Michelle Steel, which is expected to facilitate ongoing bilateral initiatives in security and trade with the United States.

Coupang: Coupang is mentioned in the context of allegations of discrimination against American technology companies in South Korea, an issue Michelle Steel pledged to address.

Coupang: Coupang is facing multiple class-action lawsuits due to alleged inadequate cybersecurity protocols, a data breach affecting 33.7 million customer accounts, and failure to report the incident to the United States — United States Securities and Exchange Commission. This has led to a significant drop in its market value and the resignation of its CEO.