K-SignalAI-generated
Baemin, Coupang fined record 631.9 bln won
South Korea's Fair Trade Commission (FTC) on Nov. 9 imposed a combined 631.9 billion won ($465 million) in penalty surcharges on Woowa Brothers (Baemin) and Coupang for abusing their dominant positions in the food delivery market, Yonhap and the Korea Times report. The FTC fined Baemin 331.1 billion won and Coupang 300 billion won for forcing affiliated restaurants to give their platforms more favorable trade conditions than competitors, which the regulator said created a cartel-like effect harming consumers. Both companies have disputed the findings and challenged the fines, KBS World reports. Separately, a court on Nov. 6 suspended a 201.1 billion-won fine imposed on Coupang over unauthorized collection of user data from about 11 million users, pending litigation, Yonhap and the Korea Times report. Korean media, including Dong-A Ilbo, describe the delivery-app fines as the largest combined penalty ever for such platforms, with the regulator issuing corrective orders alongside the surcharges.
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- Court Suspends 200 Billion Won Penalty Surcharge against Coupang
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