லீ ஹே ஜின் News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Naver, Kakao on verge of suspending more financial services
koreatimes.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimes.co.kr Daily Mail and Mail on Sunday newspapers.
Naver, Kakao facing uncertainty amid forthcoming regulations
koreatimes.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimes.co.kr Daily Mail and Mail on Sunday newspapers.
Naver s Chief Operating Officer Choi In Hyuk takes responsibility for an employee s death and resigns
allkpop.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allkpop.com Daily Mail and Mail on Sunday newspapers.
Plug antitrust loopholes
Excluding Coupang owner from watchlist gives preference to foreigners
The Korea Fair Trade Commission (KFTC) designated Coupang last Thursday as a large business group with assets of 5 trillion won ($4.48 billion) or more. However, the antitrust watchdog did not name Kim Bom-suk, the founder and chairman of the e-commerce giant, as the group s head because he has U.S. citizenship. Accordingly, Kim, who has a 10.2-percent equity stake in his group and 76.7 percent of the voting rights, is free from the obligation of disclosing his financial transactions with his family members and relatives.
This means that Kim can also dodge regulations on obtaining stakes in, or dealing with, Coupang and its affiliates by his family members and people who have a special relationship with group owners, which are strictly applied to Korean tycoons. We recognize Chairman Kim s control over his group, the KFTC said. However, even if we designate Kim as the group s head,
Posted : 2021-04-29 16:42
Updated : 2021-04-30 08:44
Coupang founder and Chairman Kim Bom-suk poses after Korea s e-commerce giant was listed on New York Stock Exchange in March. Korea Times file
By Yi Whan-woo
The Fair Trade Commission (FTC) announced Thursday it added Coupang to its new chaebol watch list but that Kim Bom-suk, the founder and chairman of the Korean e-commence giant, was not named as the company chief due to his nationality.
This means that Coupang faces stricter filing regulations, such as disclosing detailed information on management and business activities, but Korean American Kim and his family will avoid those regulations as well as accountability for any violations or scrutiny of his personal financial deals.