A U.S. House committee on Wednesday released a 35-page report accusing South Korea of discriminatory attacks on e-commerce giant Coupang Inc. and other American companies.
The House Judiciary Committee issued the interim staff report titled "Closed for Competition: South Korea's Discriminatory Attacks on American-owned Businesses." It claims South Korea has a long history of economic discrimination against foreign companies through coercive tactics and massive fines intended to shield domestic firms.
The report cites Coupang as a consistent target, noting its market capitalization has fallen more than 40 percent following investigations. Last month South Korean authorities fined the company over $410 million, described as the largest ever imposed on a single firm.
The committee said it will continue oversight of such foreign regimes. Lobbying records show Coupang spent more than $1 million in the U.S. since the data leak scandal emerged in November, affecting over 33 million users.
