Fair Trade Commission Chairman Ju Biung-ghi speaks to reporters during a briefing in Sejong on May 27. [YONHAP]
Fair Trade Commission (FTC) Chairman Ju Biung-ghi signaled that the agency may refer Coupang chairman Bom Kim to prosecutors on criminal charges over allegations that the e-commerce giant submitted false documents to avoid designation as a conglomerate.
"Coupang submitted a written pledge stating that members of the controlling family were not involved in management, but we found that this pledge had been violated," Ju said at a press briefing on Tuesday. "When false statements are proven, the only options under current law are criminal referral and criminal sanctions."
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The FTC last month changed Coupang's controlling entity — a legal term for the individual deemed to effectively control a conglomerate — to Kim from the corporation itself, citing the involvement of his younger brother and an executive vice president at the company.
