K-SignalAI-generated
Court rejects Coupang bid to suspend $315M fine
A Seoul court on Thursday rejected an injunction lawsuit by Coupang against a fine of about 423 billion won ($315 million) levied by a state-run data protection agency over a massive data leak, Yonhap and the Korea Times report. The court's decision means the fine stands, contrary to the reader's suggestion of a $140 million suspension. Separately, Coupang has accumulated 1.83 trillion won ($1.28 billion) in operating losses in the first nine months of this year, and swung to a net loss in the third quarter largely due to warehouse fire-related costs, posting an operating loss of 642.3 billion won, its second-largest since going public in 2021, according to Yonhap, KBS World, and Business Korea. A ruling party lawmaker also said Coupang is using its Washington lobbying network to portray Korea's enforcement of domestic laws as discrimination against American businesses, the Korea Times reports.
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