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Coupang rejects push in South Korea to name founder Bom Kim as controlling person

( April 24, 2026, 08:25 GMT | Official Statement) -- MLex Summary: Coupang has strongly rejected civic calls to designate founder Bom Kim as the group’s “same person,” a designation used to identify the person ultimately responsible for a large business group’s affiliate and ownership disclosures, saying it meets all four exemption criteria set out by the South Korean government. The company said the designation system is meant to curb abuses by family-controlled conglomerate, but Coupang’s US-listed parent fully owns its South Korean affiliates and Kim and his relatives hold no stakes, management roles, guarantees or lending ties in domestic affiliates. Coupang also argued that applying the system to a US-listed foreign-company CEO for the first time would create duplicative disclosure obligations, unequal treatment compared with other foreign-invested groups and potential breaches of South Korea-US Free Trade Agreement obligations on most-favored-nation treatment and investor protection.Statement follows (in Korean):...

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