Games & Commerce
FTC changes Coupang controlling person to founder Kim Bum-suk; Coupang to challenge in court
South Korea\'s Fair Trade Commission on Tuesday changed Coupang\'s designated controlling person from the company to founder Kim Bum-suk. The designation affects disclosure obligations and the scope of rules on unfair internal transactions. The FTC said it concluded Kim\'s brother did not meet an exception requirement because he effectively took part in management. Coupang said it would explain its position through an administrative lawsuit and plans to file an objection within 7 days.
