South Korea fines Coupang $220 million for abusing dominance in food delivery market
Coupang logo is seen in this illustration taken February 11, 2025. REUTERS/Dado Ruvic/Illustration
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SEOUL, Nov 9 : South Korea’s antitrust regulator said on Monday it was imposing a 300.8 billion won ($220.59 million) fine on e-commerce firm Coupang for abusing its dominant position in the food delivery market.
The Korea Fair Trade Commission said Coupang required merchants to match favourable terms offered on rival platforms and penalised those that failed to comply, restricting competition in the delivery app sector.
The regulator said the practices harmed merchants’ ability to set prices and other trading conditions independently and impeded rivals’ business activities.
($1 = 1,363.6400 won)
Source: Reuters
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