The South Korean government has rejected the findings of a U.S. congressional report accusing Seoul of waging a targeted campaign against Coupang, South Korea’s Amazon, over a data breach. The report by the House Judiciary Committee, released in July, detailed unprecedented sanctions against the company, including a record fine of 625 billion won ($409 million) and threats of criminal charges. Coupang investors, including Greenoaks Capital Partners, have asked the U.S. Trade Representative to open a Section 301 investigation and consider additional tariffs on South Korea. South Korea submitted a rebuttal to Congress deeming the allegations unfounded, but U.S. lawmakers are considering all available tools, including sanctions, as South Korea is the seventh-largest U.S. trading partner.
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