*This content was translated by AI.
-South Korea-U.S. Trade Conflict Fears 'Nothing'
-"I faithfully deal with all requests for government investigation."
Regarding Coupang's submission of letters of intent for arbitration of the International Investment Dispute (ISDS) to the Korean government, it said, "It has nothing to do with our position."
Coupang issued a statement on the 23rd and explained, "The U.S. investment company's submission of intent to mediate the International Investment Dispute (ISDS) has nothing to do with our position," adding, "Coupang is faithfully working on all government investigation requests."
Earlier on the 22nd (local time), Greenox and Altimeter, Coupang's U.S. investors, requested an investigation by the U.S. government and submitted a letter of intent to launch ISDS arbitration procedures to the Korean government, saying, "The Korean government has targeted Coupang to protect (Coupang's) large corporate competitors."
The ISDS Arbitration Intent is a document in which the claimant sends his or her intention to file an international arbitration trial to the other country. Although the procedure is not initiated only by submitting an intent to arbitration, it is possible to file a formal arbitration 90 days after submitting the intent to arbitration.
According to the arbitration letter, the claimants pointed out that after Coupang's personal information leakage on December 1 last year, the National Assembly and the administration made various administrative measures and threatening remarks targeting Coupang in all directions. They asked the U.S. Trade Representative (USTR) to investigate the South Korean government's Coupang-related actions and to take appropriate trade relief measures, including tariffs and other sanctions.
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*This content was translated by AI.
