Amid growing trade and security friction between Korea and the United States over the Coupang controversy, the Fair Trade Commission (FTC) on Wednesday designated Kim Bom-suk, chairman of Coupang Inc., who effectively controls Coupang, as the group's same person (chongsu, or head of a business group). The FTC changed the designated same person from the Coupang corporation to Kim himself. The management involvement of Kim's younger brother, Kim Yoo-seok, served as grounds for this decision. If the FTC's on-site investigation uncovers suspicions of false disclosure filings, the possibility of filing a criminal complaint against Chairman Kim cannot be ruled out. This marks the first time Coupang's designated same person has been changed since it was classified as a disclosure-target business group in 2021.
Kim's designation as the same person under Korean law is partly of Coupang's own making. Although Coupang is under investigation for allegedly leaking the personal information of 33.7 million customers in 2025, Kim has failed to demonstrate a responsible attitude, repeatedly skipping National Assembly hearings. With this designation, however, Kim will now be required to meet stricter transparent management standards, including disclosure of companies held by himself and his relatives, and a ban on unfair benefits to related parties.
One concern is that the US government and Congress could place stronger pressure on the Korean government to protect Kim and Coupang, who wield formidable lobbying power. Should the US take issue with this decision, Korea-US trade and security cooperation could be unexpectedly damaged. In fact, the US side has recently expressed discomfort over security discussions on matters Korea is pursuing, such as the construction of nuclear-powered submarines and expanded uranium rights, claiming that Coupang, a US company, is being subjected to discriminatory treatment. There is also the possibility that the US administration, which has shown displeasure over Korea's refusal to dispatch warships to the Strait of Hormuz, could tie in the FTC decision to intensify pressure on investment in the US and tariffs.
Resolving the "Coupang dilemma" wisely requires a meticulous and sophisticated diplomatic and trade strategy. At times like these, it is best to refrain from emotional remarks in political circles that could escalate into Korea-US conflict. The ruling party and government must respond to the Coupang issue in accordance with law and principle, while mobilizing all diplomatic capabilities to dispel the misconceptions about Coupang spreading through US political and public circles. Should the Korean government's negotiating leverage with the US appear to be overshadowed by the lobbying of a mere delivery company?
