Rogers, Coupang Korea's acting head, appears at the Seoul Metropolitan Police Agency's Anti-Corruption Investigation Unit in Mapo District, Seoul, on the 6th to be questioned over allegations of perjury under the Act on Testimony and Appraisal before the National Assembly for giving false testimony at the National Assembly's Coupang incident joint hearing. /Courtesy of Yonhap News

Shareholders of U.S. Coupang Inc., the parent company of Korea's Coupang, have filed additional notices of intent to arbitrate under investor-state dispute settlement (ISDS), taking issue with the Korean government's response to Coupang's personal data leak incident.

The Ministry of Justice said on the 12th that shareholders of U.S. Coupang Inc.—"Foxhaven (Foxhaven Capital GP, LLC)," "Durable (Durable Capital Associates LLC)," "Abrams (Abrams Capital, LLC)" and their affiliates—submitted additional notices of intent to arbitrate to the Korean government on the previous day (the 11th) under the Korea-U.S. Free Trade Agreement (FTA).

Earlier, Coupang's U.S. investors "Greenoaks (Greenoaks Capital Partners)" and "Altimeter (Altimeter Capital Management)" submitted notices of intent to arbitrate to the Korean government on the 22nd of last month.

Foxhaven, Durable and Abrams repeated the facts and related claims stated in the notices of intent submitted by Greenoaks and Altimeter.

A notice of intent to arbitrate is a written document sent to the respondent state in which the claimant expresses an intention to bring arbitration. It is not a formal commencement of arbitration, and formal arbitration may be initiated 90 days after the submission of the notice of intent.

The Ministry of Justice said, "The government will make thorough, systematic and professional responses to these additional notices of intent to arbitrate from Foxhaven and others, just as it did with the previous notice of intent, centered on the 'International Investment Dispute Response Team.'"

Earlier, Greenoaks and Altimeter petitioned the Office of the United States Trade Representative (USTR), saying Korea is attacking Coupang at a pan-government level under the pretext of a limited-scale personal data leak, and asked for an investigation into Korea's "unfair and discriminatory actions" under Section 301 of the Trade Act and for appropriate trade remedies.

Foxhaven, Durable and Abrams also sent a letter expressing official support for the investigation that Greenoaks and Altimeter petitioned the USTR to conduct.

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