Coupang reasserts itself as US tech company amid claims of unfair treatment SEOUL, January 25 (AJP) - E-commerce giant Coupang stressed once again that it is a U.S. company. The top of its browser tab briefly displayed "Coupang: US Tech Company Redefining Global Commerce" on Saturday before returning to the previous version, though some web browsers were still displaying it. The tab now again displays its previous promotional message in Korean, highlighting its fast "rocket" delivery service as well as membership benefits and discounts. The move came just a day after Prime Minister Kim Min-seok, who is currently visiting the U.S., met with U.S. Vice President JD Vance at the White House in Washington. During the meeting, Vance reportedly asked about details of the difficulties Coupang faces that may be caused by regulatory differences. Kim tried to clarify the misunderstanding, saying there was no discrimination against Coupang in the investigation into its massive data breach, dismissing allegations of "unfair treatment" raised by two American investors. Greenoaks and Altimeter Capital, the two largest U.S. shareholders of the New York-listed company, requested earlier in the week that the Office of the U.S. Trade Representative (USTR) launch an investigation into the South Korean government's handling of Coupang. Coupang's emphasis on being a "U.S. tech company" is widely interpreted as a strategic move to distance itself from regulatory obligations and other legal responsibilities in South Korea. But criticism may still be hard to avoid because Coupang has previously emphasized that it is a "South Korean company." In July 2019, Coupang said it was founded and grew in South Korea, runs most of its business here, and pays annual labor costs totaling 1 trillion won (about US$850 million) to South Koreans. 2026-01-25 10:38:36

Homeplus confirms closures of additional stores amid liquidity strain SEOUL, January 23 (AJP) - South Korea’s retail chain Homeplus has confirmed the closure of additional stores as the company undergoes court-led rehabilitation, raising fresh concerns about its financial condition. Industry sources said on Friday that Homeplus informed staff in an internal notice the previous day of plans to shut its Jamsil store in Seoul and its Sungui store in Incheon. A Homeplus official said the timing of the closures has yet to be set, adding that both outlets are leased locations affected by lease expirations and ongoing operating losses. Homeplus has said its cash flow has continued to deteriorate since entering rehabilitation proceedings. In August last year, the company announced plans to close 15 loss-making leased stores after failing to secure rent reductions, though it later suspended the move on the condition that transaction terms would be eased. The latest closures add to a growing list of store shutdowns. Homeplus recently said it would halt operations at seven locations around the country. In December, it closed five stores. A further five stores are also scheduled to close on Jan. 31. Under a rehabilitation plan submitted to the court, Homeplus plans to shut 41 loss-making stores over the next six years. Concerns among employees have also grown after wages for January were not paid due to the company’s cash shortage. Homeplus has applied for an emergency debtor-in-possession loan of 300 billion won ($205 million), with 100 billion won each expected from private equity owner MBK Partners, its largest creditor Meritz, and state-run Korea Development Bank. MBK has indicated it will participate in the financing, but it remains unclear whether the remaining funds will be secured. “If the emergency operating loan is provided, we will use it as a catalyst for rehabilitation to overcome the liquidity crisis and carry out our structural reform plan without disruption to improve business viability,” Homeplus said in a statement. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-23 13:57:42

Coupang union warns of job risks amid sweeping data breach probes SEOUL, January 22 (AJP) - A labor union representing delivery drivers at South Korean e-commerce firm Coupang on Thursday urged the government to conduct what it called a reasonable and fair investigation into the company’s recent personal data breach, warning that an excessive probe could harm workers and small merchants. In a statement, the union said data breaches have affected many companies, including large corporations, but that it was difficult to find comparable cases in which investigations were as "wide-ranging" and "overlapping" as those currently facing Coupang. “The company’s wrongdoing must be clearly corrected,” the union said. “But in the process, many workers and small business owners who make a living through Coupang must not be sacrificed.” The union said a thorough investigation and follow-through on improvements were responsibilities shared by both government authorities and the company. However, it described it as unusual that more than 10 government bodies were simultaneously examining not only the data breach itself but also Coupang’s broader business operations. While stressing that it had no intention of defending the breach or downplaying responsibility, the union cautioned against sanctions that extend beyond accountability for personal data protection. It said excessive penalties could disrupt operations, lead to job losses among delivery drivers and logistics center workers, and cut off sales channels for small merchants, threatening the livelihoods of tens of thousands of families. The union added that workers are already experiencing a decline in delivery volumes and said any investigation or policy discussion should also consider workers’ right to earn a living. Calling for a careful and balanced approach, the union said the outcome of the probe would affect not only Coupang but also large numbers of frontline workers who depend on the platform. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-22 15:25:22

Coupang cuts logistics workforce as orders slip after data breach SEOUL, January 14 (AJP) - Coupang has cut more than 6,000 logistics workers over the past month through unpaid leave and a pullback in hiring as order volumes decline following a recent personal data breach, industry sources said Wednesday. Coupang Fulfillment Services, the e-commerce company’s logistics arm, notified full-time workers — including regular and contract employees — at major fulfillment centers nationwide in mid-December that they could apply for unpaid leave. More than 5,000 workers have taken up the offer over a month, the sources said. Hiring has also slowed sharply. In December, CFS hired about 1,400 fewer workers than in the previous month, a decline believed to be concentrated among short-term and day laborers. Combined with unpaid leave applicants, the reduction brings the workforce contraction to about 6,400 workers over the past month. Industry officials said day-labor shifts are increasingly being shortened. Coupang’s annual job fairs in major regions such as Gyeonggi Province, Daegu and Daejeon are also not expected to be held this year. The workforce adjustments come as user activity and spending show signs of strain. According to app analytics service Mobile Index, Coupang’s daily active users fell to 14.8 million by late December, down 17.7 percent from early in the month. Payment volume declined 7.7 percent between the first week of November and the third week of December. At the same time, rival platforms appear to be benefiting. Following controversy surrounding Coupang’s data breach and its handling of the incident, orders at competitors such as SSG.com and Market Kurly rose by 10 to 15 percent, according to industry estimates. 2026-01-14 10:30:11

Chinese copycat of Olive Young raises concerns over South Korean brands' reputation SEOUL, January 13 (AJP) - As retail giant CJ's health and beauty chain has become a popular destination for foreign tourists visiting Seoul, a copycat brand has emerged in China, raising concerns about potential damage to the reputation of South Korean beauty products. According to industry watchers on Tuesday, a beauty store called "Only Young," reminiscent of Olive Young, has opened in Changsha, the vibrant capital of China's Hunan Province, and has been expanding its outlets in recent years. while advertising free delivery across the country. The Chinese copycat goes beyond mere concept, replicating everything from the name and logo to the store layout itself. Nearly everything, from its shopping bags to its store design, strikingly resembles Olive Young's signature colors and style, raising concerns that foreign shoppers might mistake it for the genuine South Korean retailer. The Chinese knockoff brand also runs a channel on Douyin, the Chinese version of TikTok, posting promotional featuring K-pop music and advertising free delivery across the country. The channel has accumulated around 230,000 likes, suggesting it has gained considerable traction in China over the past two years. Experts say the case appears to be "intentional copying" aimed at deliberately confusing consumers, rather than merely being a similar brand. The development comes after Olive Young, which operated offline outlets in Shanghai from 2010 to 2013, exited the Chinese market amid declining sales caused by an unofficial boycott of South Korean products and services in protest of the deployment of Terminal High Altitude Area Defense (THAAD) batteries here in 2016. An industry worker pointed to the case of dollar store Daiso to raise concerns about the emergence of Chinese copycat brands. "Like Daiso's Chinese copycat Mumuso, the Chinese copycat of Olive Young may also attempt to expand into overseas markets," he said. "Consumers who buy products there believing they are South Korean could tarnish the retailer's global image, affecting its long-term growth." "As South Korean brands gain popularity overseas, cases of Chinese companies riding the Korean Wave and copying brands appear to be on the rise," said Seo Kyung-duk, a professor at Sungshin Women's University. "Now it is time to more actively protect intellectual property rights at the government level, along with strategies to prevent repeat cases," he added. 2026-01-13 10:36:10

Coupang interim head repeats apology at hearing, founder and key C-suite stay away SEOUL, December 17 (AJP) -Coupang Corp.’s interim chief executive officer Harold Rogers apologized Wednesday for a massive data breach affecting more than 33 million South Korean customers, while telling lawmakers that the incident did not trigger mandatory disclosure requirements under U.S. privacy and securities regulations. "I am deeply sorry for the concern that we have created for the Korean people,” Rogers said at a National Assembly hearing, pledging full cooperation with regulators and lawmakers. “We take this matter very seriously, and are working diligently to respond to your questions, the concerns of our regulators and those of our customers.” Rogers said the breach did not require reporting under U.S. law, explaining that under U.S. Securities and Exchange Commission (SEC) rules the incident was not deemed material enough to mandate disclosure. He added, however, that Coupang chose to disclose the incident due to public interest considerations. The hearing followed Coupang’s late-November disclosure that personal data of more than 33 million customers had been compromised in a breach believed to have begun on June 24 through overseas servers. The company said it became aware of the incident on Nov. 18. Rogers also addressed concerns over insider threats, noting that cybersecurity risks linked to internal access are challenges faced by many global companies, and said Coupang is working to strengthen safeguards. Rogers, formerly Coupang’s chief administrative officer, was appointed interim head of Coupang’s South Korea unit after former CEO Park Dae-jun resigned earlier this month, taking responsibility for the incident. On Dec. 10, Park said he was stepping down from all positions, citing “a strong sense of responsibility” for both the breach and the company’s handling of the matter. Rogers is regarded as a close confidant of Coupang founder and chairman Bom Kim. A Harvard Law School graduate specializing in compliance and risk management, Rogers played a key role in ensuring Coupang met SEC disclosure requirements during its 2021 New York Stock Exchange listing. This marks the first time since Coupang’s founding that an executive from its U.S. headquarters has been appointed CEO of the Korean subsidiary. Chairman Kim did not attend the hearing, citing overseas business commitments as CEO of the global company. His absence prompted sharp criticism from lawmakers. Rep. Choi Hyung-du of the ruling People Power Party said Kim’s failure to appear “mocks the public and delivers despair to global investors,” adding that even the heads of larger global firms such as Meta and Amazon have appeared before congressional hearings. Lawmakers said they are preparing to file a complaint against Kim for allegedly violating a law that compels witnesses to attend parliamentary hearings, which carries penalties including fines or imprisonment for refusal to testify. Opposition and minor-party lawmakers also took issue with Rogers’ responses. Reform Party lawmaker Lee Jun-seok criticized what he described as formulaic answers, noting that when asked why Kim did not attend, Rogers replied, “Happy to be here,” before reiterating his apology and willingness to answer questions as Coupang Korea’s representative. Rep. Choi Hyung-du criticized what he called an attempt to “avoid responsibility” by presenting a foreign executive despite the chairman’s ability to explain matters in Korean. As questioning continued, delays caused by cross-interpretation and repeated formal responses led some lawmakers to complain that interrogating foreign witnesses was inefficient. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-17 13:34:05

Coupang CEO resigns over data breach; US parent firm names interim chief SEOUL, December 10 (AJP) - Coupang said on Thursday that CEO Park Dae-jun has resigned following a major data breach, taking responsibility for the incident and its fallout. The e-commerce firm said Park apologized for disappointing customers and the public, and cited a sense of accountability in stepping down. The company’s U.S.-based parent, Coupang Inc., appointed Harold Rogers as interim CEO. Rogers, a legal and compliance specialist, has held senior positions at global companies and international law firms, including Sidley Austin and Millicom. Rogers said his immediate priorities would be to address customer concerns and stabilize operations. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-10 16:46:01

Coupang sees drop in daily users after massive data breach SEOUL, December 5 (AJP) - Coupang, South Korea's leading e-commerce giant, has been seeing a drop in daily users after a massive data breach was detected late last month. According to an analysis by market researcher IGAWorks on Thursday, Coupang's daily active users fell to 17.80 million last Tuesday, down from a record 17.98 million the previous day. This marks the first decline after three consecutive days of increase since last Saturday, despite the breach. With daily users still above 17 million, many customers appear to continue using the platform, either overlooking the risk of a data leak for convenience or finding it difficult to switch to alternative platforms for daily necessities. But industry observers believe many users will gradually leave the platform, attributing last week's initial surge in logins to those rushing to change their passwords or close their accounts following the breach. Meanwhile, many users have been complaining about difficulties terminating their accounts, which involves a lengthy process including verification of personal information. The Korea Communications Commission (KCC) is investigating whether the process may infringe on users' rights to discontinue services. The breach was initially believed to affect around 4,500 users but was later revealed to impact more than 33.70 million. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-05 15:06:58

Korean president unveils SHINE doctrine as new backbone of foreign policy in Egypt SEOUL, November 21 (AJP) - South Korean President Lee Jae Myung on Thursday branded "SHINE" - stability, harmony, innovation, network, and education - as the backbone in his foreign policy, offering it as a framework for mediating peace in the Middle East and positioning Korean defense capabilities to complement tool in the role during his state visit to Egypt. Lee highlighted stability and harmony as the centerpiece of the twin pillars guiding Seoul's posture toward the Korean Peninsula and conflict-ridden Middle East during his speech at Cairo University. He cast Korea as a country uniquely positioned to contribute to regional peace while expanding its role as a technology and manufacturing partner. After a two-hour summit with Egyptian President Abdel Fattah El-Sisi, the two leaders found common ground on the need for de-escalation and deterrence. Discussions included potential cooperation on South Korea’s advanced defense systems — notably K-9 self-propelled howitzers — as Egypt accelerates its military modernization. Lee announced $10 million in humanitarian aid through the Egyptian Red Crescent to support Gaza recovery efforts. He also proposed launching a Comprehensive Economic Partnership Agreement (CEPA) to upgrade the bilateral economic relationship, offering Korea’s development playbook — the so-called “Miracle on the Han River” — to help Egypt pursue its own “Miracle of the Nile.” Lee suggested active human-capital exchanges through education and networking among students and scholars and regulator collaboration between the Grand Egyptian Museum and the National Museum of Korea. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-21 09:52:53

South Korea's CU convenience chain opens first US store in Hawaii SEOUL, November 13 (AJP) - South Korea’s largest convenience store operator, BGF Retail, has opened its first American location in Honolulu, Hawaii. The store opened this week in the popular destination for Asian tourists and home to a sizable Korean community. The launch follows the establishment of BGF Retail Hawaii in May and a master franchise agreement with WKF Inc., a local company that will manage operations under the CU brand. Under the deal, BGF Retail will collect royalties while WKF oversees local management. The store is situated in a bustling commercial area catering to office workers, hotel guests, and tourists. With the theme “K-Food Meets Aloha,” the location blends Korean convenience store culture with local tastes, offering both imported and locally inspired items. Among its products are popular Korean snacks and ready-to-eat meals. CU’s menu also emphasizes freshly prepared foods and local favorites such as Spam musubi and loco moco. To meet strong coffee demand, CU partnered with Island Vintage Coffee to offer locally roasted beans and brewed drinks. BGF Retail plans to expand from its Honolulu flagship to Waikiki Beach and Ala Moana, with a goal of 50 stores within three years. “CU’s U.S. entry highlights the global appeal of Korean convenience stores and strengthens our role as a K-culture platform,” said Hong Jeong-guk, vice chairman of BGF Retail. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 10:01:02