Court Suspends Designation of Coupang Chairman as 'Same Person' (7 month 14 day)
The Seoul High Court has suspended the effectiveness of the Fair Trade Commission's decision to designate Coupang founder Kim Beom-seok as the 'same person' on 7 month 14 day, citing the need to prevent damage. Meanwhile, the government announced a growth strategy for the second half of the year, including local preferential tax package 3 and reforms centered on small and medium enterprises.
The Seoul High Court has suspended the effectiveness of the Fair Trade Commission’s decision made on 7 month 14 day to designate Coupang founder Kim Beom-seok as the ‘same person’ (Chairman). This decision has increased investor interest as Coupang's regulatory burden will be temporarily halted.
The court partially accepted Coupang’s application for a stay against the Fair Trade Commission's disposition, suspending its effectiveness. One of the reasons provided by the court was the 'need to prevent damage.'
Coupang had filed an administrative lawsuit against the Fair Trade Commission's designation as the same person. The court has now decided to suspend the effectiveness of this disposition.
At the same time, the government announced its growth strategy for the second half of the year. This includes the development of a local preferential index and the introduction of tax package 3.
The tax package 3 is reportedly set to include measures to expand income tax reductions for workers in local small and medium enterprises. The government stated that it will reform the support system for small and medium businesses to focus on fostering high-growth companies.
The growth strategy is also expected to include measures to prevent the 'stock price suppression' of listed companies and strengthen regulations on speculative lending, as well as considerations for young people with genuine demand. The announced contents address taxation, regulation, and support for small and medium enterprises simultaneously.