South Korea fines Coupang $220 million for abusing dominance in food delivery market

SEOUL, Nov 9 : South Korea's antitrust regulator said on Monday it was imposing a 300.8 billion won ($220.59 million) fine on e-commerce firm Coupang for abusing its dominant position in the food delivery market.

The Korea Fair Trade Commission said Coupang required merchants to match favourable terms offered on rival platforms and penalised those that failed to comply, restricting competition in the delivery app sector.

The regulator said the practices harmed merchants' ability to set prices and other trading conditions independently and impeded rivals' business activities.