$CPNG

Coupang was fined $312.5 million for a data breach affecting 37.5 million users. The fine was calculated based on its direct-purchase revenue model, which recognizes full product sale prices as revenue. The South Korean Personal Information Protection Commission rejected Coupang's request to use a net method for calculation. The fine considers aggravating and mitigating factors, including corrective actions and victim compensation.

South Korea's Fair Trade Commission (FTC) Chairman Ju Biung-ghi dismissed U.S. pressure over the regulator's crackdown on Coupang, stating they will continue nondiscriminatory enforcement. The U.S. House Judiciary Committee accused Korea of discriminatory treatment, introducing legislation to bar officials involved. Coupang faces a $451M fine for a data breach. Ju emphasized fair enforcement and left diplomatic handling to the government.

South Korea's FTC Chairman Ju Biung-ghi defended the country's platform regulations, emphasizing strict enforcement of competition rules on domestic and foreign companies. The FTC is reviewing Coupang for potential inaccuracies in fair trade filings and is examining the proposed Naver-Dunamu combination for market concentration concerns. Ju rejected claims of discriminatory treatment against foreign firms, citing Korea's long history of enforcing competition laws.

Coupang purchased 7,000 tons of fruit from eight rural, population-declining areas in South Korea, a 10% increase from last year. The company plans to expand direct purchases to support struggling farms and secure stable sales channels, aiming to exceed 8,400 tons by year-end.

Coupang purchased 7,000 tons of fruit from eight regions in South Korea, a 10% increase year-over-year. Purchases of Ugok Watermelon, Gunwi Plum, and Hampyeong Fig surged 60%, 73%, and 138% respectively. Coupang aims to boost regional economies and support farmers in depopulated areas.

Coupang and Hanwha are challenging Fair Trade Commission (FTC) investigations in court, marking a shift in corporate strategy. Coupang refused an on-site inspection, and Hanwha contested evidence collection methods. The FTC defends its actions as lawful. Meanwhile, farming, fishing, and public-sector groups are resisting government reforms, including a nationwide farmland audit and potential CPTPP membership. These disputes highlight growing opposition to the government's policies.

Baemin and Coupang Eats, South Korean delivery apps, are using AI to improve delivery time accuracy. Baemin's AI system, launching next month, predicts delivery times using 58 data types, achieving over 50% accuracy. Coupang Eats' technology optimizes store coordinates to reduce delays. Both companies aim to enhance user satisfaction and retention. Baemin's monthly active users grew 5.8% year-over-year, while Coupang Eats saw a 23.0% increase.

South Korea's economic reforms face resistance. Hanwha and Coupang challenge FTC investigations, with courts involved. LH union threatens strike over spinoff plans. Farmers oppose farmland survey. Experts cite need for broader acceptance.

Coupang is expanding its operations in Taiwan, opening its fourth fulfillment center and investing over $900M. The company aims to grow its AI-powered logistics and Rocket Delivery service, reaching 70% of Taiwan's geography. Coupang faces scrutiny in Korea after a data breach led to a $458M fine.

Coupang, Kurly, and SSG.com will maintain deliveries during Chuseok except on the holiday itself, leveraging their own logistics networks. Traditional couriers will halt services from the 24th to the 26th. The debate continues over mandatory shutdowns, with some advocating for industry-wide closures and others pushing for substitute labor solutions. The Ministry of Land, Infrastructure and Transport expects parcel volume to rise 5% during the holiday period, reaching 19.3 million boxes per day.