Market Chatter: Coupang Files Lawsuit Against FTC's KRW162.8 Billion Fine over Search Algorithm Manipulation
South Korean e-commerce company Coupang filed a lawsuit against the Fair Trade Commission's (FTC) 162.8 billion won fine for allegedly manipulating its search algorithm to prioritize its private label (PB) products, Pulse News reported Monday.
Coupang and its PB products subsidiary CPLB submitted the lawsuit to the Seoul High Court on Sept. 5, seeking to overturn the FTC's decision, the report said.
The FTC ruling, which includes corrective orders, could be finalized via appeals to higher courts, it said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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