Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking. 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Trump Sues BBC for Defamation Over Edited Capitol Riot Speech Clip 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
Coupang Inc. and Yuhan Corporation are both joining the lobby group called the Korea Enterprises Federation, which is one of the leading business lobby organizations in South Korea. The companies will soon be part of the federation representing more than 4,000 businesses in the country.
Processing of Membership Applications
As per The Korea Herald, the leading e-commerce firm and the Daebang-dong, Dongjak-gu, Seoul-headquartered pharmaceutical and chemical company have submitted their membership applications to the KEF, and sources in the industry revealed this on Monday, Feb. 19.
It was reported that 10 companies, including Coupang, have forwarded their application forms and now have to wait for the decision. The memberships are still subject to approval from board directors and the current members.
“The KEF is a representative economic organization that has taken the lead in industrial policy promotion and deregulation,” an official at Coupang said. “We decided to join for broad exchange and cooperation on industrial and economic issues.”
Deflecting Feud with the Umbrella Union
The Korea Times reported that Coupang’s decision to apply for full membership in the Korea Enterprises Federation is a move to defend itself against the condemnation from the Korean Confederation of Trade Unions (KCTU) and pro-labor groups. The company has been criticized by these groups after its logistics affiliate, Coupang Fulfillment Service (CFS), got involved in rumors stating it had made a “blacklist” of retired employees so they could not be hired again.
“The KCTU has colluded with our employees to spill our confidential information and manipulate documents for their own political purposes,” a CFS spokesperson said in response to the allegations against the company. “The union and some media outlets have long argued that the document on human resource evaluation is illegal but a judicial authority ruled this does not go against the nation’s labor standards act.”
Photo by: Coupang Website
