South Korean court suspends FTC designation Coupang founder Kim Bom as controlling entity

SEOUL, July 14 : A South Korean court on Tuesday suspended a Fair Trade Commission (FTC) decision to designate Kim Bom, the founder of U.S.-listed e-commerce firm Coupang, as the group's controlling entity. The Seoul High Court granted an injunction sought by Coupang and Kim, suspending the designation pending a ruling in the main lawsuit, according to a court filing.The court said it granted the request due to "an urgent need to prevent irreparable harm" to the applicants from the change in designation.It found no evidence that suspending the FTC measure would run counter to the public interest. The suspension will remain in effect until 30 days after the court delivers its ruling in the main lawsuit, when the legality of the FTC's designation will be decided upon, it said. In April, the