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 $350 billion U.S. investment plan. The Seoul High Court on Wednesday rejected Coupang’s bid to suspend a Fair Trade Commission order for an on-site inspection, allowing the probe to continue. FTC Chairman Ju Biung-ghi said the agency will review internal rules and continue enforcing Korean law regardless of nationality.

The court said the FTC can proceed with its investigation after rejecting Coupang’s request for a suspension.

Coupang had refused to cooperate with the probe, saying the FTC did not give advance notice.

Ju Biung-ghi said the FTC will review its internal rules to close loopholes that let companies delay or evade investigations through court injunctions.

Korea and the United States are still working out details of the planned $350 billion Korean investment in the U.S., including projects in shipbuilding and other strategic industries.

Seoul has already selected a $200 billion gas-fired power project in Texas as the first major project under the investment framework.

Published Sep 25, 2026 3:41 pm KST

Coupang risk feared to emerge as stumbling block for Korea-US investment agreement

President Lee Jae Myung holds summit talks with U.S. President Donald Trump on the sidelines of the U.N. General Assembly in New York, Tuesday. Yonhap

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.

Fair Trade Commission (FTC) Chairman Ju Biung-ghi attends a press conference at Government Complex Sejong, Monday. Yonhap

The confrontation is particularly sensitive, as Korea and the U.S. work to flesh out the details of their investment agreement. Under the deal, Korea is committed to invest $350 billion in the U.S., including major projects in shipbuilding and other strategic industries, in exchange for a reduced U.S. tariff rate on Korean exports.

The first major project has already taken shape, with Seoul selecting a $200 billion gas-fired power project in Texas to supply electricity to data centers and semiconductor facilities.

The remaining negotiations, however, cover projects that are considerably more complicated in terms of financing, profitability and corporate participation. The two sides are discussing potential investments in nuclear power, Westinghouse and Alaska LNG, among others, with several details still subject to negotiation and U.S. government review.

Against that backdrop, the Coupang dispute could give Washington another issue to raise when assessing whether Korean companies face a sufficiently predictable regulatory environment in the bilateral economic relationship.

Continued U.S. criticism could potentially increase Washington’s demands for protections on American companies operating in Korea.

That risk has become more visible in recent months. A U.S. House committee accused Korean authorities in July of engaging in discriminatory treatment of Coupang, and a U.S. lawmaker introduced legislation targeting foreign officials accused of discriminating against American businesses.

Seoul has rejected the allegations, saying its regulatory actions are based on domestic law and never target companies because of their nationality.

“Neither country looks likely to make concessions on the Coupang dispute anytime soon, leaving the issue as a potential source of trade friction as the two countries finalize the investment framework,” an industry official said.

FTC unfazed by US pressure over Coupang: chairman

FTC carried out on-site probe into Coupang: sources

FTC approves Coupang’s co-prosperity plan for its private brand contract

韩国监管机构对Coupang的强硬立场，令首尔与华盛顿就其3500亿美元美国投资计划后续阶段的谈判变得更加复杂。首尔高等法院周三驳回了Coupang要求暂停韩国公平交易委员会现场检查令的申请，允许调查继续进行。韩国公平交易委员会主席朱炳基表示，该机构将审查内部规则，并继续不分国籍地执行韩国法律。

法院表示，在驳回 Coupang 的暂停申请后，联邦贸易委员会可以继续进行调查。

Coupang拒绝配合调查，称FTC没有提前通知。

Ju Biung-ghi表示，美国联邦贸易委员会将审查其内部规则，以堵住允许公司通过法院禁令拖延或逃避调查的漏洞。

韩国和美国仍在商讨韩国计划在美国投资 3500 亿美元的细节，其中包括造船和其他战略产业的项目。

首尔已经选定德克萨斯州一个价值 2000 亿美元的燃气发电项目作为该投资框架下的首个重大项目。

发布于2026年9月25日下午3:41（韩国标准时间）

有人担心Coupang的风险会成为韩美投资协议的绊脚石。

周二，韩国总统李在明在纽约联合国大会期间与美国总统唐纳德·特朗普举行峰会会谈。（韩联社）

韩国监管机构对 Coupang 的强硬立场，使首尔与华盛顿就其计划在美国投资 3500 亿美元的下一阶段进行的谈判变得复杂。

最新进展发生在周三，首尔高等法院驳回了 Coupang 的请求，即暂停执行公平交易委员会 (FTC) 的一项决定，该决定命令对这家总部位于美国的电子商务公司涉嫌违反当地公平交易法的行为进行现场检查。

Coupang拒绝配合调查，理由是联邦贸易委员会没有提前通知。

法院的裁决允许联邦贸易委员会继续进行调查。联邦贸易委员会主席朱炳基承诺将审查该机构的内部规则，以堵上他所说的允许公司通过法院禁令拖延或逃避调查的漏洞。

他还驳斥了美国方面对监管机构歧视美国公司的批评，称联邦贸易委员会将继续执行韩国法律，不考虑国籍。

韩国公平交易委员会（FTC）主席朱炳基周一在世宗市政府大楼出席记者会。（韩联社）

由于韩美两国正在敲定投资协议的细节，此次对峙尤为敏感。根据协议，韩国承诺在美国投资3500亿美元，其中包括造船和其他战略产业的重大项目，以换取美国降低对韩国出口商品的关税。

第一个重大项目已经成形，首尔选择在德克萨斯州建设一个价值 2000 亿美元的燃气发电项目，为数据中心和半导体工厂供电。

然而，剩余的谈判涉及的项目在融资、盈利能力和企业参与方面都更为复杂。双方正在讨论对核电、西屋电气和阿拉斯加液化天然气等领域的潜在投资，但一些细节仍需谈判并经美国政府审查。

在此背景下，Coupang 纠纷可能会给华盛顿带来另一个问题，以便评估韩国企业在双边经济关系中是否面临足够可预测的监管环境。

美国持续的批评可能会增加华盛顿方面对在韩国经营的美国公司提出保护要求的力度。

近几个月来，这种风险变得更加明显。今年7月，美国众议院一个委员会指责韩国当局对Coupang采取歧视性待遇，一位美国议员还提出了一项法案，旨在惩处被控歧视美国企业的外国官员。

首尔方面驳斥了这些指控，称其监管行动均依据国内法律，绝不会因公司国籍而针对该公司。

一位业内人士表示：“两国似乎都不太可能在Coupang争端上做出让步，这使得该问题成为两国最终敲定投资框架时潜在的贸易摩擦源。”

美国联邦贸易委员会主席：主席表示，美国政府对Coupang施加的压力并未动摇美国联邦贸易委员会的立场。

据消息人士透露，美国联邦贸易委员会已对Coupang展开现场调查。

美国联邦贸易委员会批准了Coupang的自有品牌合同共赢计划