South Korean civic groups have issued a strong protest after two U.S. investment firms asked the U.S. Trade Representative to investigate South Korea’s measures targeting Coupang.
Some 135 groups, including the Korean Confederation of Trade Unions and the People’s Solidarity for Participatory Democracy, called on the two American companies to immediately stop infringing on South Korea’s sovereignty during a rally held across from the U.S. Embassy in Seoul.
The rally comes after Silicon Valley investment firms Greenoaks and Altimeter, major shareholders of Coupang Inc., filed a petition with the U.S. government on Thursday, claiming the South Korean government has treated the company in a discriminatory manner and calling for an investigation and corrective action.
The civic groups called on the government and the National Assembly to not waver and to deal sternly with the Coupang issue in line with the law and principles.
They also urged the government to order Coupang to suspend its operations and impose an astronomical amount of fines on the e-commerce giant.