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Korea's Fair Trade Commission imposes fines on Coupang and Woowa Brothers

AFP +2 · ·by G4L

CPNG Coupang Inc
$16.42 +0.80%
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  1. 1Korea's Fair Trade Commission announced a provisional fine of 300.8 billion won ($222 million) on Coupang for abusing its dominant position in the food delivery market.
  2. 2With a provisional fine of 331 billion won also imposed on Woowa Brothers, the combined fines for Coupang and Woowa Brothers total 631.9 billion won.
  3. 3Coupang protested the fine, stating that its efforts to provide better service to customers were deemed illegal.

So what's the key point?

The government imposed a total of 631.9 billion won in fines on Coupang and Woowa Brothers due to market monopoly issues. Coupang is protesting the decision, claiming its efforts to improve services were treated as illegal.

Source AFP +2 · View original ↗

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