Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Airbus Faces Pressure After November Deliveries Dip Amid Industrial Setback 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Visa to Move European Headquarters to London’s Canary Wharf 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Coupang was reportedly investigated by South Korea’s Fair Trade Commission due to allegations that the e-commerce company tampered with algorithms so it can prioritize its own products. This was reported by insiders this weekend.
According to The Korea Herald, the FTC conducted an unannounced inspection at Coupang’s headquarters located in Seoul. Based on the report, the allegation it violated the country’s Fair Trade Act prompted the commission to carry out the look-over last month.
The allegation against the e-commerce giant
It was claimed that Coupang altered its platform’s search algorithms to ensure that its own products appear on the top searches and top of the page. As a result, the items from other companies were bumped down to the bottom, so they had less exposure.
In addition, Coupang was also accused of demanding the suppliers to only give the lowest prices. If they do not follow this, they are reportedly threatened with disadvantages. And this is not all, as the FTC is also checking if Coupang pressured its suppliers into buying ads and cut them out of its subscription-based delivery service as a form of retaliation.
It was noted that Naver also had a similar case, and it was fined ₩26.7 billion or around $23 million for manipulating its search algorithms on its e-commerce platforms. The purpose is the same as what Coupang was accused of, which is to place its own products on the top search results.
Coupang to start a business in Singapore
Meanwhile, amid this investigation, it was also reported that Coupang is now starting its business in Singapore. In fact, the company already hired the needed senior executives for its operations in Southeast Asia.
"Coupang completed the hiring of senior roles such as heads of retail, logistics and operations in Singapore,” The Korea Times quoted a company official as saying. “It also hired below C-suite executives in roles such as logistics, marketing and IT."
It was shared that the job openings for the position were posted on Coupang Rocket Your Career website, and apparently, the response was good. Thus, the senior executives are now complete at this point.
Finally, Coupang chose Singapore as the base for expansion in Southeast Asia as it has a robust market, and it would be easier to reach and expand to other Asian countries from here. The company’s goal is to replicate Amazon’s success even with the competitors in Asia, such as Lazada and Shopee.
