The court has temporarily suspended the Fair Trade Commission's designation of Kim Beom-seok as the 'owner' of Coupang Inc.
The Seoul High Court's Administrative Division 7, led by Judge Kwon Soon-hyung, partially granted Coupang and Kim's request for a stay of the commission's designation on July 14.
The Seoul High Court's Administrative Division 7, led by Judge Kwon Soon-hyung, partially granted Coupang and Kim's request for a stay of the commission's designation on July 14.
The court stated that the effect of the commission's designation change from May 1 would be suspended until 30 days after the ruling on the main case.
The effect of the commission's request for document submission regarding Chairman Kim, made on April 8, will also be suspended for the same period.
The court noted, "There is an urgent need to prevent irreparable harm to Coupang," adding, "There is no evidence to suggest that the suspension would be contrary to the public interest."
On April 29, the Fair Trade Commission changed Coupang's designation from a corporate entity to an individual, identifying Chairman Kim as the owner. This decision was based on the involvement of Kim's brother, Kim Yoo-seok, in Coupang's management, which disqualified the company from being designated as a corporate entity under the exception criteria.
Coupang argued that "Chairman Kim and his relatives do not hold shares in Korean affiliates, so there is no concern for private gain," and filed a lawsuit against the commission's decision.
The effect of the commission's request for document submission regarding Chairman Kim, made on April 8, will also be suspended for the same period.
The court noted, "There is an urgent need to prevent irreparable harm to Coupang," adding, "There is no evidence to suggest that the suspension would be contrary to the public interest."
On April 29, the Fair Trade Commission changed Coupang's designation from a corporate entity to an individual, identifying Chairman Kim as the owner. This decision was based on the involvement of Kim's brother, Kim Yoo-seok, in Coupang's management, which disqualified the company from being designated as a corporate entity under the exception criteria.
Coupang argued that "Chairman Kim and his relatives do not hold shares in Korean affiliates, so there is no concern for private gain," and filed a lawsuit against the commission's decision.
* This article has been translated by AI.
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