Two US investors in Coupang, Greenoaks Capital Partners and Altimeter Capital Management, have notified South Korea of their intention to file arbitration claims over what they describe as discriminatory treatment by Korean authorities, and have asked the US government to investigate.

The investors, who hold over US$1.5 billion in Coupang equity, cited increased regulatory scrutiny following a data leak incident affecting about 33.7 million customers.

They claimed that enforcement actions against Coupang have exceeded those faced by domestic competitors, and accused the Korean government of making false claims about the breach.

The investors also alleged that Seoul’s actions have caused billions of dollars in market value losses, impacting US shareholders.

The Korean government said that the investigation is related to an unprecedented data leak and is conducted in accordance with applicable laws.

🔗 Source: Yonhap

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