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[Alpha Biz=(Chicago) Reporter Kim Jisun] The court has decided to cancel all fines imposed by the Fair Trade Commission on Coupang.
On the 1st, the Seoul High Court Administration Department 7 (senior judge Kim Dae-woong) ruled in favor of the plaintiff in a lawsuit filed by Coupang against the FTC, saying, "We will cancel both the correction order and the order to pay the fine."
The FTC announced in August 2021 that it would impose a fine of 3.297 billion won on Coupang, along with a correction order, citing unfair practices. The FTC's investigation began when LG Household & Health Care reported Coupang to the FTC in 2019. At that time, LG Household & Health Care claimed that Coupang forced to lower the product delivery price.
Coupang, which disagreed with the FTC's decision, filed a lawsuit for cancellation. "We have been supplying products at high prices from LG Household & Health Care, the No. 1 daily necessities company, and we asked for a lower price," Coupang said.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
