Court Suspends Effect of Beomseok Kim's Designation as Coupang Group Owner: "Need to Prevent Damages"

Until 30 Days After the Main Judgment Is Delivered

The court has suspended the effect of the Korea Fair Trade Commission's decision to designate Beomseok Kim, Chairman of Coupang Inc., as the 'Same Person (Owner)'.

Beomseok Kim, Chairman of Coupang Inc. Photo by Yonhap News

On July 14, the 7th Administrative Division of the Seoul High Court partially accepted Coupang's request for a stay of execution, which sought to suspend the effect of the Fair Trade Commission's order changing the designation of the 'Same Person'.

The court stated that the effect of the Fair Trade Commission's order issued on May 1, changing the designation of the 'Same Person', would be suspended until 30 days after the main judgment is delivered. The effect of the Fair Trade Commission's request, issued to Coupang on April 8, for documents related to Chairman Kim is also suspended for the same period.

The court explained, "It has been demonstrated that there is an urgent need to prevent irreparable harm to the applicants," and added, "There is no evidence to indicate that the suspension of effect would be contrary to the public interest."

Previously, on April 29, the Fair Trade Commission changed the designation of Coupang's 'Same Person' from the company itself to Chairman Beomseok Kim, a natural person. The Fair Trade Commission argued that Chairman Kim's younger brother, Yuseok Kim, is effectively involved in Coupang's management, which means Coupang does not meet the exceptional criteria that would allow a corporation, rather than an individual, to be designated as the 'Same Person'.

In contrast, Coupang has filed a lawsuit contesting the decision, stating that neither Chairman Kim nor his relatives own shares in the Korean subsidiaries, and therefore, there is no risk of private interests being transferred.

This content was produced with the assistance of AI translation services.