Republic of Korea: Coupang sanctioned with a fine of 3.29 billion won ($2.8 million) for abuse of dominance in the form of unfair business practices

On 18 August 2021, the Korean Fair Trade Commission (KFTC) issued a fine of 3.29 billion won ($2.8 million) on Coupang, a Korean e-commerce marketplace for several violations of antitrust laws. Specifically, Coupang violated the Fair Trade Act as well as the Act on Fair Transactions in Large Retail Business by forcing suppliers to sell their goods for low prices on Coupang while raising prices on rival e-commerce platforms, coercing suppliers to buy advertisements on the Coupang site and in general implementing unfair business practices with suppliers. The investigation by KFTC began in 2019 after a complaint was filed with the authority.