A Seoul High Court suspends a Fair Trade Commission (FTC) decision that designated Coupang founder Kim Bom-suk, known as Bom Kim, as the e-commerce group’s legally designated controlling entity. Multiple outlets report the court grants a partial injunction requested by Coupang and Kim, putting the FTC’s obligations and related measures on hold while the main administrative case proceeds.
The FTC had issued a May 1 decision shifting the “controller” status from Coupang to Bom Kim, after a process this year that identifies business groups subject to disclosure rules. The court’s ruling also suspends a related April 8 document request requiring Kim to submit information to the regulator.
According to reports, the suspension remains in effect until 30 days after a final ruling in the primary case. The court cites an urgent need to prevent “irreparable harm” to the applicants, and it finds no evidence that the suspension would seriously affect public welfare.
The FTC’s rationale, as described by at least one source, is that Coupang did not meet exception criteria for keeping the corporation as the controlling entity because Bom Kim’s younger brother, Kim Yoo-seok, is said to hold substantial influence.
