KB News Desk
A Seoul appeals court on Tuesday suspended the Fair Trade Commission’s decision to designate Coupang founder Bom Kim as the e-commerce giant’s controlling figure, or “same person,” putting the accompanying disclosure requirements on hold while the case proceeds.
The Seoul High Court’s Administrative Division 7 granted an injunction sought by Coupang, Kim and other plaintiffs, suspending both the designation and the FTC’s request that Kim submit additional disclosure information.
The suspension will remain in effect until 30 days after the court rules on the main lawsuit. Coupang had sought to keep the measures on hold until the judgment became final.
“The applicants have demonstrated an urgent need to prevent irreparable harm,” the court said, adding that there was no indication the suspension would significantly undermine public interest.
The court also ruled that the FTC’s request for additional information constituted an administrative action subject to judicial review and suspended that measure as well.
The FTC changed Coupang’s same-person designation in April when it released its 2026 list of large business groups subject to disclosure rules, replacing US-listed parent Coupang Inc. with Kim.
The regulator said involving Kim’s younger brother, Kim Yoo-seok, a Coupang vice president, in the management of the group’s Korean affiliates meant Kim effectively exercised control over the business group.
Under FTC rules, a corporation can remain the designated controlling entity only if relatives of the individual who ultimately controls the group do not participate in managing its domestic affiliates. The commission concluded that Coupang no longer met that condition because of Kim Yoo-seok’s management role.
Coupang disputes that interpretation.
“Coupang has a transparent ownership structure, with Coupang Inc. owning 100 percent of the Korean operating company,” the company said. “Neither Kim nor his relatives own shares in the Korean affiliates, and there is no risk of private benefits being transferred to the founder’s family.”
The company filed an administrative lawsuit seeking to overturn the designation and requested an injunction to suspend the measure while the case is being heard.
At a hearing in June, Coupang argued that the change would force Kim to disclose information about relatives, including their shareholdings and positions at affiliated companies, creating compliance burdens and potential harm that would be difficult to reverse.
The company also alleged procedural and substantive flaws in the FTC’s decision.
The FTC countered that the designation would not cause immediate or significant harm and argued that foreign-controlled business groups should not receive different treatment from Korean conglomerates.
The court had temporarily suspended the FTC’s measures on June 14 while considering the injunction request.
