On the 29th, according to a government official, the Korea Customs Service is conducting an on-site investigation at the headquarters of Coupang’s Korean corporation located in Songpa-gu, Seoul.
The Customs Service is investigating the flow of funds and foreign exchange transactions between Coupang’s U.S. headquarters and its Korean corporation.
They are focusing on examining the sales and profit scale within Korea, the flow of investment funds to the U.S. headquarters, and whether the transactions between the two entities have been conducted appropriately.
Additionally, they plan to verify the import prices and payment details of goods brought into South Korea by Coupang to assess potential customs evasion.
The investigation will also check for any illegal foreign exchange transactions, such as deliberately not collecting trade payments during the import and export process.
Furthermore, they intend to verify the management status and potential leakage of personal customs clearance codes used for direct purchases through e-commerce.