South Korea’s Korea Fair Trade Commission said on November 9 it was imposing a 300.8 billion won (US$220 million) fine on NYSE-listed Coupang, a South Korea-focused ecommerce company, for what it said was abuse of its dominant position in the food delivery market.

The regulator said Coupang required merchants to match favourable terms offered on rival platforms and penalised merchants that failed to comply.

It said the practices restricted merchants’ ability to set prices and other trading conditions independently and impeded rival delivery platforms’ business activities.

Coupang is listed in New York under ticker CPNG and operates primarily in South Korea.

In South Korea’s delivery market, Coupang Eats competes with Woowa Brothers’ Baedal Minjok, the market leader.

🔗 Source: Reuters