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More investors join legal challenge against South Korea over Coupang data leak handling
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More investors join legal challenge against South Korea over Coupang data leak handling
Mar 11, 2026 3:44 AM

Feb 11 (Reuters) - Three more investors have joined

Greenoaks and Altimeter in their legal challenge against the

government of South Korea, alleging discriminatory treatment of

e-commerce firm Coupang ( CPNG ) and ​other U.S. companies.

Abrams Capital, Durable Capital ‌Partners, and Foxhaven have

notified South Korea to pursue arbitration by adopting the

previous suit ⁠filed by the other two investors, according to a

statement ⁠published on Wednesday.

The legal claims accuse Seoul ‌of mounting ‌a campaign against

Coupang ( CPNG ) following a consumer data breach that has caused

billions of ​dollars in losses to investors.

Coupang ( CPNG ) ‌reported in November that personal data for some 33

million customers in South Korea were compromised, leading ​to

far-reaching backlash from the ​public and ‌lawmakers, lawsuits

and international disputes.

The new investors have also submitted letters in support of

petitioning the U.S. government to investigate ⁠South Korea's

actions.

"Over the past several weeks, it has ⁠become clear that both

U.S. policymakers and U.S. investors recognize the importance of

standing up for American companies in the face of discrimination

by foreign countries," said Neil Mehta, founder and ⁠managing

Partner ‌of Greenoaks.

Coupang ( CPNG ), founded by Korean-American Harvard graduate ‌Bom Kim

in 2010, is the country's most popular e-commerce ⁠platform. It

has overtaken family-owned conglomerates like Shinsegae in South

Korean e-commerce and is expanding into food delivery, streaming

and fintech.

The Coupang ( CPNG ) breach has also played a part in escalating

trade frictions between the U.S. and South Korea, with U.S.

President Donald Trump threatening to raise tariffs ​on the

country to 25%.

The House Judiciary Committee last week issued a subpoena to

Coupang ( CPNG ) as a part of its ongoing ​probe into alleged

discrimination against ‌U.S. companies.

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