South Korea's Trade Minister Yeo Han-koo met with U.S. lawmakers and officials in Washington this week to address concerns over the country's investigation into a massive data breach at Coupang, warning against the issue turning into a trade dispute between the two nations. Yeo emphasized that the probe is being conducted in line with relevant laws and should not be viewed as a trade matter. Coupang, a U.S.-listed company, experienced a leak of personal data from about 34 million customers late last year.
Trade Minister Yeo Han-koo met with U.S. Senators Andy Kim (D-NJ), Bill Hagerty (R-TN), Dave McCormick (R-PA), and Todd Young (R-IN), as well as Representatives Adrian Smith (R-NE) and Darrell Issa (R-CA) in Washington on January 14 (local time). He also held discussions with officials from U.S. think tanks and business groups, including the Coalition of Services Industries, the Computer & Communications Industry Association, and the Center for Strategic and International Studies.
The visit occurred amid growing concerns in Washington over South Korea's recent digital regulatory push, including the revised Network Act, and the scrutiny of Coupang's data leak. Rep. Adrian Smith, chair of the House Ways and Means trade subcommittee, accused Korean regulators of "aggressively" targeting U.S. tech firms like Coupang with "discriminatory" actions.
Yeo assured the lawmakers that the investigation into Coupang is proceeding according to relevant laws and it is inappropriate to frame it as a trade issue between Seoul and Washington. Coupang, founded by Korean American Bom Kim, is a U.S.-listed company that derives about 90 percent of its sales from Korea.
Separately, Yeo met with U.S. Trade Representative Jamieson Greer for follow-up talks on non-tariff barriers in the bilateral trade agreement. He stressed that South Korea should not receive unfavorable treatment compared to other countries regarding the U.S. Supreme Court's upcoming ruling on the legality of the Trump administration's reciprocal tariffs, noting Korea's status as one of the few nations with a trade deal with the U.S.
In a press release, Yeo stated, "The U.S. has been showing high expectations for trade and investment cooperation with Korea following the bilateral tariff deal, but we need to carefully manage risk factors, such as digital trade issues and the anticipated tariff ruling by the U.S. Supreme Court."
"We will continue our efforts to expand outreach to the U.S. as it is important to accurately explain and communicate the intentions and background of our policies to the U.S. government, Congress and industries."
