South Korea’s fair trade watchdog on Tuesday approved voluntary corrective measures worth 3 billion won ($1.94 million) proposed by Coupang and its private-label affiliate over unfair dealings with subcontractors. The decision by the Fair Trade Commission (FTC) came after the watchdog’s probe found that Coupang and its wholly owned subsidiary, Coupang Private Label Brands (CPLB), had sought a consent decree to resolve the case without further legal proceedings. According to the FTC, the two companies had provided 314 subcontractors with contracts that omitted legally required information and lowered supply prices for 94 subcontractors through discount promotions that were not stipulated in their agreements since 2022. Coupang and CPLB later proposed a set of corrective measures in March last year, including programs worth a total of 3 billion won aimed at promoting shared growth with subcontractors. The amount is far higher than the anticipated fines of 600 million won to 1.1 billion won. In detail, Coupang pledged to provide 1.05 billion won to support subcontractors’ costs related to pr
