Fair Trade Commission "We will consider designating the same person"... Will Coupang’s Kim Beom-seok become the ‘head of a conglomerate’?
last year 11month 29Day '3370Personal information leak incident'As pressure from the government and political circles continues to surround Coupang, which announced. The Fair Trade Commission is conducting multiple investigations regarding suspicions of unfair practices by Coupang., Beomseok Kim CoupangInc chairman's 'Whether the same person is designated'He said he would review it until. last year 12month 31At a joint hearing on the Coupang incident held on Sunday, Fair Trade Commission Chairman Joo Byeong-ki said, "next year 5When judging the month (Chairman Kim’s designation of the same person) I will look at it closely."as "Even if the same person is designated, practical punishment is weak, so we will review supplementary measures."He said.'same person(同一人)'A business group under the Fair Trade Act, so-called 'zaibatsu'the actual ruler of(count)means. Designating a specific individual as a ruler, such as Samsung Electronics Chairman Lee Jae-yong or Hyundai Motor Group Chairman Eui-sun Chung, 'natural person' method and, If the total number is unclear 'corporation' It is divided into ways of specifying itself.. Is it possible to designate the head of the Fair Trade Commission last year? 5The same person of Coupang was not the founder, Chairman Kim Beom-seok. 'corporation'designated as. At the time, whether the controlling natural person invested in a domestic affiliate, which was an exception for the same person under the Enforcement Decree of Coupang,, Relatives are prohibited from participating in management., This is because it is judged that all requirements for debt guarantees and fund loans between natural persons and relatives and domestic affiliates have been met..However, due to the personal information leakage incident, the domestic distribution industry 1As the inside story of Coupang’s management was revealed, the situation changed.. In particular, when it became known that Vice President Kim Yu-seok, the younger brother of Chairman Kim Beom-seok, received a large amount of compensation while working at Coupang. 'Whether relatives participate in management'As it rises to the surface of the water. U.S. Securities and Exchange Commission(SEC) According to submitted materials, etc., Vice President Kim 2021since 2024Cash and stock subject to transfer restrictions until 2018(RSU) As an incentive in the form of approximately 140It was confirmed that he received compensation worth billions of won.. If a relative is judged to have served as an executive or participated in management, Coupang will be exempt from the exception requirement that allows the same person to be designated as a corporation..Vice President Kim will decide whether to designate the same person. 'smoking gun'As it emerged, the ruling party's offensive targeting it also intensified.. previous year 12month 30At a joint hearing on Coupang, Democratic Party lawmaker Kim Young-bae said of Vice President Kim: "Isn't it strange that they are paid this much even though they are not executives?"I asked back. The next day, Rep. Kim Hyeon of the same party also "Vice President Kim of Coupang '3factor' Isn't it?"as "It is difficult to view him as a simple employee."pointed out.According to this, 5Attention is focused on the results of the Fair Trade Commission's designation of business groups subject to disclosure, scheduled for this month.. According to the Fair Trade Act, the Fair Trade Commission maintains a certain amount of total assets each year.(5More than trillion won)Designates a business group that corresponds to the group and effectively controls the group. 'same person(count)'Also announced.At this time, if the founder, Chairman Kim Beom-seok, is designated as the same person,, Coupang will be subject to additional regulations under the Fair Trade Act, including the obligation to disclose relatives' transactions, holding company regulations, and voting rights restrictions.. Junwoo Park, head of the Fair Trade Team at One Law Firm, said: "The economic activities of Chairman Kim's family members may be restricted., Companies run by relatives are also likely to be included as related persons."said. Son Dong-hoo, who is leading a class action lawsuit for Coupang personal information leak victims in the United States. SJKP(Daeryun Law Firm USA Corporation) New York lawyer "In the case of U.S. listed companies, designation of the same person may be perceived as a factor that increases governance risk from the perspective of global investors."He emphasized.For this reason, whether or not to designate the same person is considered one of the issues that global companies are reluctant to issue.. A representative example is the designation of the same person by Lee Hae-jin, chairman of Naver’s board of directors.. Naver founder and Chairman Lee Hae-jin is ahead of the Fair Trade Commission's designation as a business group subject to disclosure., myself 'same person' We have requested an exception from the designation.. My share 4% low inside and out 'CEO of a conglomerate'They cited reasons such as the fact that business could suffer if the image of “Ran” is highlighted.. However, the Fair Trade Commission designated Chairman Lee as the same person based on his dominance as the founder of Naver and the existence of a related company..However, given that Coupang is a company listed on the New York Stock Exchange, questions are raised as to whether the same person system can actually work.. Lawyer Son "In the United States, there is no single person system in place to designate a specific individual in advance as the person responsible for regulating a business group."as "Korea's logic of designating the same person can be perceived as a way to excessively place individuals at the center of regulation from the perspective of U.S. law."explained.Regarding Vice President Kim Yoo-seok's actual participation in management, "Direct involvement in personnel, financial, and business decisions of Korean affiliates, and documentation to support such intervention., instruction, There must be clear evidence of a contractual relationship or ongoing decision-making involvement"said.Korea Coupang is a company, Now it's Coupang's 'press window'On the In Newsroom website: 'We would like to inform you about false rumors about Coupang.'The article titled 2019year 7month 17It is posted in chronological order. In the article, Coupang described itself as 'A proud Korean company'It is called "Founded and grown in Korea, Most of our business is operated within Korea."He said.However, it has been pointed out that Coupang's response to this personal information leak is quite different from the past.. last year 12month 10Il Coupang is an American, Harold Rogers, as the successor to Park Dae-jun, CEO of Coupang Co., Ltd., a Korean corporation.(Harold Rogers)sit down and, the scale of the leak 3370not ten thousand 3000The U.S. Securities and Exchange Commission reported the results of its own investigation, which it said was a case, without consultation with the Korean government.(SEC)It was first announced in.Hwang Yong-sik, professor of business administration at Sejong University, "so-called 'black haired alien'There is bound to be criticism that this is a structure in the country that only profits and takes no responsibility."as "Even in the movement to designate the same person, there is an underlying recognition that it is necessary to demand responsible management."pointed out.On the other hand, there are also skeptical views about the effectiveness of the same person system.. Hwang Lee, a professor at Korea University Law School, "The core value of the same-person system lies in regulating private gain., Even if they are not the same person, anyone with actual control can cause a problem of misappropriation of private interests."as "A separate legal framework is needed to institutionally recognize and regulate business groups."suggested.Reporter Gong Gong-kyung by_jk@chosun.com [View full article]
Fair Trade Commission "We will consider designating the same person"... Will Coupang’s Kim Beom-seok become the ‘head of a conglomerate’? (Shortcut)