Ju Biung-ghi, chairperson of the Korea Fair Trade Commission, said on the 30th that the agency would "actively review" whether Coupang can be deemed a monopolistic operator (a market-dominant business).
The chairperson appeared at the Science. ICT. Broadcasting. and Communications Committee's "hearing on the Coupang breach incident and personal data leak" at the National Assembly that day and stated accordingly, "Coupang's market share has risen considerably over the past five years."
A market-dominant business is designated when a single company's market share is 50% or more, or when the combined market share of three companies is 75% or more. In addition to these requirements, the Korea Fair Trade Commission (FTC) can judge specific corporations to be market-dominant businesses by considering the overall situation.
The Korea Fair Trade Commission (FTC) last year sanctioned Coupang for "self-preferencing," such as artificially placing its private-label (PB) products at the top of its website, and was reported to have determined that Coupang was not a market-dominant business. If, as the chairperson said, the FTC designates Coupang as a market-dominant business, that judgment would change in one year. If the FTC deems a company a market-dominant business, it can impose a penalty surcharge of up to 6% of related sales, resulting in a higher level of sanctions than otherwise.
That day, the chairperson said, "In the tying case, the review report has been prepared and deliberations are expected to take place soon."