Market Chatter: South Korea's FTC Reports 26% Jump in 2024 Fines; Coupang Hit with Largest Penalty

MT Newswires Live

Jan 23, 2025

South Korea's Fair Trade Commission (FTC) imposed fines totaling 550.15 billion won in 2024, up 26% from 434.98 billion won in 2023, Yonhap News reported Wednesday.

Coupang and its subsidiary Coupang Private Label Brands received the highest penalty of 140.1 billion won for manipulating search algorithms and posting fake product reviews to boost private-label sales, the report said.

Kakao (KRX:035720) subsidiary Kakao Mobility was fined 72.4 billion won for directing ride requests to its franchise taxis using algorithm manipulation. CJ Freshway (KOSDAQ:051500) was also fined 24.5 billion won for unfairly supporting an affiliate to solidify its market position, it said.

Shares of Kakao fell nearly 1% while those of CJ Freshway rose nearly 2% in recent trade on Thursday.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2505087824"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2505087824\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2505087824?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-01-23 09:40","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2505087824","market":"sh","top_or_hot":-1,"title":"Market Chatter: South Korea's FTC Reports 26% Jump in 2024 Fines; Coupang Hit with Largest Penalty","media":"MT Newswires Live","content":"<html><body><p> South Korea's Fair Trade Commission (FTC) imposed fines totaling 550.15 billion won in 2024, up 26% from 434.98 billion won in 2023, Yonhap News reported Wednesday.</p><p>Coupang and its subsidiary Coupang Private Label Brands received the highest penalty of 140.1 billion won for manipulating search algorithms and posting fake product reviews to boost private-label sales, the report said.</p><p>Kakao (KRX:035720) subsidiary Kakao Mobility was fined 72.4 billion won for directing ride requests to its franchise taxis using algorithm manipulation. CJ Freshway (KOSDAQ:051500) was also fined 24.5 billion won for unfairly supporting an affiliate to solidify its market position, it said.</p><p>Shares of Kakao fell nearly 1% while those of CJ Freshway rose nearly 2% in recent trade on Thursday.</p><p>(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.)</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Chatter: South Korea's FTC Reports 26% Jump in 2024 Fines; Coupang Hit with Largest Penalty</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Chatter: South Korea's FTC Reports 26% Jump in 2024 Fines; Coupang Hit with Largest Penalty\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2025-01-23 09:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> South Korea's Fair Trade Commission (FTC) imposed fines totaling 550.15 billion won in 2024, up 26% from 434.98 billion won in 2023, Yonhap News reported Wednesday.</p><p>Coupang and its subsidiary Coupang Private Label Brands received the highest penalty of 140.1 billion won for manipulating search algorithms and posting fake product reviews to boost private-label sales, the report said.</p><p>Kakao (KRX:035720) subsidiary Kakao Mobility was fined 72.4 billion won for directing ride requests to its franchise taxis using algorithm manipulation. CJ Freshway (KOSDAQ:051500) was also fined 24.5 billion won for unfairly supporting an affiliate to solidify its market position, it said.</p><p>Shares of Kakao fell nearly 1% while those of CJ Freshway rose nearly 2% in recent trade on Thursday.</p><p>(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.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1242518857.USD","symbol_name":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2505087824","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2505087824","pubTimestamp":1737596453,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"South Korea's Fair Trade Commission  imposed fines totaling 550.15 billion won in 2024, up 26% from 434.98 billion won in 2023, Yonhap News reported Wednesday.Coupang and its subsidiary Coupang Private Label Brands received the highest penalty of 140.1 billion won for manipulating search algorithms and posting fake product reviews to boost private-label sales, the report said.Kakao  subsidiary Kakao Mobility was fined 72.4 billion won for directing ride requests to its franchise taxis using algorithm manipulation. CJ Freshway  was also fined 24.5 billion won for unfairly supporting an affiliate to solidify its market position, it said.Shares of Kakao fell nearly 1% while those of CJ Freshway rose nearly 2% in recent trade on Thursday.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","CPNG":"Coupang, Inc.","BK7509":"中概股","BK7033":"数据处理与外包服务","BK7158":"交易和支付处理服务","BK4588":"碎股","BK4585":"ETF&股票定投概念","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","BK4220":"综合零售","BK4548":"巴美列捷福持仓","FTC":"First Trust Large Cap Growth Opp","FTC.AU":"FinTech Chain Limited","BK4122":"互联网与直销零售"},"translate_title":"市场热议：韩国FTC报告2024年罚款增加26%；Coupang受到最大处罚","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CPNG":1,"FTC":1,"FTC.AU":1},"content_text":"South Korea's Fair Trade Commission (FTC) imposed fines totaling 550.15 billion won in 2024, up 26% from 434.98 billion won in 2023, Yonhap News reported Wednesday.Coupang and its subsidiary Coupang Private Label Brands received the highest penalty of 140.1 billion won for manipulating search algorithms and posting fake product reviews to boost private-label sales, the report said.Kakao (KRX:035720) subsidiary Kakao Mobility was fined 72.4 billion won for directing ride requests to its franchise taxis using algorithm manipulation. CJ Freshway (KOSDAQ:051500) was also fined 24.5 billion won for unfairly supporting an affiliate to solidify its market position, it said.Shares of Kakao fell nearly 1% while those of CJ Freshway rose nearly 2% in recent trade on Thursday.(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.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}