In the U.S. Congress, complaints have been raised that the Korean government is unfairly discriminating against American technology corporations, including Coupang.
House Ways and Means Committee Trade Subcommittee Chairperson Adrian Smith (R-Neb.) said on the 13th (local time) at a hearing on overseas digital regulation trends that "although the Korean government promised through a fact sheet in November last year that American corporations would not be discriminated against and would not face unnecessary trade barriers, regulators appear to be aggressively targeting U.S. technology corporations."
Chairperson Smith said, "Korean regulators already seem to be aggressively targeting America's technology leaders," adding, "discriminatory regulatory actions against Coupang are one example." The hearing was held as Office of the Minister for Trade head Yeo Han-koo visited the United States to address concerns from the U.S. government and political circles about Korea's digital regulation trends.
Rep. Carol Miller (R-W.Va.) also argued that "the Korean National Assembly continues to push legislation targeting American corporations, including a recently passed 'censorship bill,' and recently launched a political witch hunt against two American executives." The "censorship bill" Miller mentioned appears to refer to the amendment to the Act on Promotion of Information and Communications Network Utilization and Information Protection, passed by the National Assembly under the leadership of the Democratic Party of Korea, and the "two American executives" appear to refer to Harold Rogers, acting head of Coupang Korea, and Bom Kim, chair of Coupang Inc.
Coupang derives most of its revenue from the Korean market, but Coupang Inc, registered in Delaware, is a U.S. company that holds 100% equity in Coupang Korea. More than 70% of the parent company's voting rights are held by Chair Bom Kim, the U.S.-national founder.