As criticism intensifies towards Coupang following an enormous buyer knowledge leak, calls are rising for founder Kim Bom-suk, chairman of the board of Coupang Inc. to be designated because the head of a company group topic to associated rules.
Kim successfully controls Coupang, an e-commerce big in Korea, by Coupang Inc., which is integrated in the US. Regardless of quite a few controversies surrounding Coupang in Korea over time, Kim has constantly remained silent, and he has not appeared in reference to the newest incident both. Whereas he controls Coupang’s Korean operations, he has not come ahead to bear the duty for the latest knowledge leak affecting 33 million clients.
The most recent buyer knowledge leak has reignited requires Chairman Kim to be designated as the pinnacle of a company group below the Monopoly Regulation and Truthful Commerce Act. The legislation imposes various rules on the pinnacle of a big enterprise group to restrict their affect and improve accountability.
Lee Jung-hee, professor of economics at Chung-Ang College, mentioned, “Beforehand, the Truthful Commerce Fee didn’t designate Kim as the pinnacle of a company group, however now it must deal with him otherwise,” including, “Coupang has grow to be the nation’s high distribution firm. Now it should be examined whether or not it’s fulfilling its obligations accordingly.”
Even after Coupang was designated by the Truthful Commerce Fee as a big company group topic to public disclosure in 2021, Kim has averted designation as the pinnacle of the group. He has been exempt as a result of he’s a overseas nationwide with U.S. citizenship and his kin should not engaged in administration actions. Kim stepped down from the board chairmanship and registered directorship of the South Korean unit in 2021, and has since continued administration actions by the U.S. mum or dad firm, Coupang Inc. Criticism has intensified that though Kim achieved “rocket-like development” for Coupang in South Korea, he has been evading duty for repeated controversies. On the Nationwide Meeting’s coverage listening to held that day, it was Coupang CEO Park Dae-joon — not Kim — who appeared.
President Lee Jae Myung mentioned throughout a cupboard assembly held that day on the presidential workplace in Yongsan, Seoul, “The dimensions of the harm is big, but it’s really surprising that the corporate didn’t even detect the leak for 5 months after the incident first occurred,” directing, “Related ministries ought to check with abroad circumstances and take measures akin to strengthening fines and making punitive harm compensation a actuality.”
