South Korean government discriminated against Coupang, House report finds
The New York Stock Exchange welcomes executives and guests of Coupang on March 11, 2021, in celebration of the company’s initial public offering. NYSE The South Korean government has used its regulatory authority to discriminate against U.S. companies and has waged an unprecedented campaign against online retailer Coupang, according to a House Judiciary Committee report released Wednesday. The report is the result of an investigation opened by the committee in February. It highlights the treatment of Coupang, which is based in the U.S. but is known as the “Amazon of Asia,” and other U.S. companies going back decades. “South Korea’s conduct is part of a broader attempt by foreign governments to weaponize their laws and regulations in an effort to harm American companies and limit their ability to compete in the global economy,” the committee, which is chaired by Rep. Jim Jordan, R-Ohio, reported. Read more CNBC politics coverage The South Korean embassy did not immediately respond to a request for comment on Wednesday. The committee said in the report that Coupang has been the …
