The Seoul High Court has temporarily suspended the Fair Trade Commission's decision to designate Coupang CEO Kim Beom-seok as an "identical person." The FTC judged that Kim's younger brother was involved in management, and therefore did not meet the exceptional conditions for designating a natural person as a legal entity. Coupang argued that Kim and his relatives do not hold shares in Korean affiliates, and thus there is no concern about personal gain, filing a lawsuit against the decision. The court decided to suspend the effect of the decision to prevent irreparable damage that Coupang may suffer. This suspension will remain in effect until the final judgment is rendered.
