Reported 7 months ago
South Korean e-commerce company Coupang has been fined 140 billion South Korean won (approximately $33 billion New Taiwan dollars) by the South Korean Fair Trade Commission for artificially manipulating algorithmic product rankings and using its own employees to purchase products and write high-rated reviews. The company expanded its operations to Taiwan in 2021. Coupang's manipulative practices led to inflated sales of its own products and unfair competition, impacting consumer purchasing decisions as well as other retailers. The company's actions were found to have violated fair trade regulations, resulting in the significant penalty.
Source: YAHOO