Coupang probe tests the U.S.’s willingness to protect its tech giants abroad
South Korea is investigating Coupang, its largest online retailer, for a major data breach affecting 33.7 million users, while the U.S. is intervening to protect the company due to its American registration and stock exchange listing. U.S. lawmakers argue that South Korea's regulatory actions constitute an unfair campaign against a U.S.-listed firm, while South Korean officials assert their sovereign right to investigate alleged misconduct. The dispute highlights broader tensions over jurisdiction and regulatory authority for multinational tech companies, with concerns that pushing out U.S. firms could benefit Chinese e-commerce platforms.
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Regional Champions Coupang probe tests the U.S.’s willingness to protect its tech giants abroad A massive data breach at South Korea’s biggest online retailer, which is registered and listed in the U.S., has both countries claiming the right to act. Jung Yeon-je/AFP/Getty Images Jung Yeon-je/AFP/Getty Images By Ananya Bhattacharya 30 April 2026 South Korea wants to punish its biggest online retailer for a massive data leak. The U.S. is stepping in to shield Coupang, because even though it operates almost entirely in South Korea, it is registered as an American company.
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