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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 3:48 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 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.

In ‌a statement, South Korea's Justice Ministry said the

government "will make every effort ⁠to respond in a systematic

and professional manner to the additional notices of intent to

arbitrate filed by Foxhaven and others, led by the International

Investment Dispute Response Team."

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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