U.S. President Donald Trump nominated Coupang Inc outside director Kevin Warsh as the next chair of the Federal Reserve on Jan. 30, local time, drawing attention to Coupang’s high-profile board.

According to Coupang’s 2025 shareholder meeting notice (Proxy Statement) filed with the U.S. Securities and Exchange Commission, the board consists of 8 members including chairman Bom Kim. They include figures spanning U.S. politics, finance and Silicon Valley.

Warsh joined Coupang’s board in October 2019 and has chaired its governance committee. The post is a key role that leads director appointments and overall corporate governance.

Warsh holds 444,126 Coupang shares worth about 13 billion won. He received restricted stock units worth $300,000 a year as compensation. After serving as the youngest Fed governor and as a special assistant to the White House on economic policy, he is now a fellow at Stanford University’s Hoover Institution and an outside director at UPS.

Warsh is also the son-in-law of Ronald Lauder, former chairman of Estee Lauder. Coupang disclosed it bought products worth about $20.3 million from Estee Lauder in 2024.

The longest-serving ally on Coupang’s board is Neil Mehta, founder of Green Oaks Capital. He has served as a director since December 2010 and chairs the compensation committee. His 2024 compensation was $352,495.

Green Oaks is a major shareholder that holds about 3.2 percent of Coupang, worth about 2 trillion won. Mehta also owned 179,141 shares in his personal name, worth about 5.3 billion won.

Green Oaks Capital submitted a notice of intent last month to seek international investment arbitration against the South Korean government based on the Korea-U.S. free trade agreement. It is a situation in which a key Coupang investor and director is in dispute with the South Korean government.

In addition to Warsh and Mehta, Coupang’s board includes Arm Holdings CFO Jason Child, Brex CEO Pedro Franceschi, Microsoft’s head of AI platforms Asha Sharma, early Coupang investor Benjamin Sun, and Airtable CFO Amberlin Toubassy.

Chairman Bom Kim holds 100 percent of Class B shares, which carry 29 votes per share, giving him control of 74.3 percent of total voting rights. Second-largest shareholder SoftBank holds a 21.2 percent stake but has only 5.4 percent of voting rights. Third-largest shareholder Baillie Gifford has a 10.1 percent stake and 2.6 percent of voting rights.

An industry official said, "I understand Coupang has made efforts to build U.S. government relations by bringing in figures from U.S. politics and finance as outside directors since its early days," adding, "If Warsh becomes Fed chair, he will have to resign as a Coupang director due to a conflict of interest."