Published：Jun 21, 19:26Last updated：Jul 5, 02:57

US-South Korea Trade Tensions Over Coupang Intensify Amid Trump Stock Revelations

Jun. 21, 2026 19:26

Mick Mulvaney, former White House Chief of Staff during Trump's first term, criticized South Korea's treatment of Chinese companies in a recent article for the Washington Examiner. He referenced the Personal Information Protection Commission's imposition of a record-high fine of 642.6 billion won on Coupang, stating that such discriminatory treatment compared to Chinese companies is hard to ignore. Mulvaney remarked, "Friends don't treat friends like this." The issue has escalated into a trade dispute, with widespread perception in the US political sphere that South Korea's platform regulations favor Chinese companies.

Summarized

28News

7Media

Jul. 5, 2026 00:02

U.S. President Donald Trump made 18 trades in Coupang Inc. shares between October and May, as revealed in his financial disclosure reports. The trades, valued up to $130,000, occurred amid tensions over South Korea's regulatory probes into a data breach involving the U.S.-listed e-commerce giant. Trump's transactions drew attention as U.S. officials criticized South Korea's handling of the scandal as "discriminatory." The reports showed purchases ranging from $1,001 to $100,000 on specific dates. The disclosures highlight ongoing scrutiny of Trump's financial activities amid diplomatic strains.

Jul. 5, 2026 02:57

South Korea's ruling Democratic Party expressed "strong regret" over a U.S. House report alleging unfair treatment of e-commerce giant Coupang, calling it "severely distorted." The party accused Coupang of shifting blame for a massive data breach onto the government. The report claimed South Korea targeted Coupang with excessive penalties, which Seoul denies. Coupang, founded by a Korean-American, faces a $4.09 billion fine for the 2025 data leak affecting millions.

The US-South Korea trade dispute over e-commerce giant Coupang has escalated with new revelations about President Donald Trump's stock trades and stronger political pushback from Seoul. South Korea's presidential office and ruling Democratic Party have repeatedly denied allegations in a US House report accusing discriminatory treatment of the US-listed company, emphasizing their investigation into Coupang's data breach affecting 33 million users followed due process.Yonhap News Agency+2

🏛️ Political Backlash

South Korea's Democratic Party expressed "strong regret" over the US House report, calling it "severely distorted" and accusing Coupang of shifting blame for its data breach. Meanwhile, US President Trump made 18 trades in Coupang shares worth up to $130,000 between October 2025 and May 2026, raising conflict-of-interest concerns amid the diplomatic tensions. The trades were conducted through two investment accounts with transactions ranging from $1,001 to $100,000.Yonhap News Agency+2

🔍 Investigation Controversy

The dispute centers on South Korea's $4.09 billion fine against Coupang for a 2025 data leak. US officials criticized the penalty as excessive, while Seoul maintains the investigation was fair under domestic law. National Security Adviser Wi Sung-lac stressed the government doesn't discriminate based on nationality, addressing claims that Coupang was specifically targeted among foreign firms.Yonhap News Agency+2

🌐 Diplomatic Strains

The controversy has created tensions in US-South Korea relations, with Seoul warning it could impact broader cooperation including security discussions about North Korea. South Korea's Foreign Ministry called the US report one-sided, while US critics argue the dispute shouldn't undermine the bilateral alliance against regional threats.Hankyoreh+2

💼 Business Impact

Coupang faces ongoing scrutiny over its data breach, with the fine representing one of South Korea's largest penalties against a tech company. The company, founded by a Korean-American, continues to be at the center of trade tensions as US lawmakers argue such measures create an uneven playing field for American businesses in Korea.Yonhap News Agency+2

CoupangLee Jae-myungMick MulvaneyMichael DiSombreNational Intelligence Service (NIS)

topic.regionalNarratives

South Korea

Coverage centers on South Korea's strong rebuttals to U.S. allegations of discriminatory treatment of Coupang and revelations about Trump's stock trades.