Coupang dispute raises U.S.-South Korea tariff tensions
A Coupang banner hangs outside the New York Stock Exchange on the day of the company’s initial public offering, March 11, 2021. NYSE The South Korean government’s dismissal of the findings of a congressional report alleging it’s waged a targeted campaign against U.S.-based Coupang — commonly known as the Amazon of South Korea — is straining the relationship between the two global allies, officials in Congress and people close to the company told CNBC. CNBC spoke with nearly a dozen people familiar with the Coupang-related tensions, some of whom asked not to be named in order to discuss sensitive matters. The company’s representatives and supporters on Capitol Hill say they’re seeking a quick end to what they describe as South Korea’s campaign against the online retailer. People familiar with the situation raised the specter of retaliation from Congress or the White House, including potentially additional tariffs on South Korea, if the dispute drags on. The report by the House Judiciary Committee’s Republicans alleges the South Korean government waged an unprecedented offensive on Coupang — which …
