Coupang dispute raises stakes in Korea's $350 bil. US investment talks

Korean regulators’ hardline stance toward Coupang is complicating Seoul’s talks with Washington over the next stages of its planned $350 billion investment in the United States. The latest development came Wednesday when the Seoul High Court rejected Coupang’s request to suspend the effect of a Fair Trade Commission (FTC) decision ordering an on-site inspection of the U.S.-headquartered e-commerce firm’s alleged violations of a local fair transaction act. Coupang had refused to cooperate with the probe, arguing that the FTC failed to provide advance notice. The court ruling allows the FTC to proceed with the investigation. FTC Chairman Ju Biung-ghi has vowed to review the agency’s internal rules to close what he described as loopholes that allow companies to delay or evade investigations through court injunctions. He has also rejected U.S. criticism that the regulator is discriminating against American companies, saying the FTC will continue to enforce Korean law without regard to nationality. The confrontation is particularly sensitive, as Korea and the U.S. work to flesh out t