Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
EssilorLuxottica Bets on AI-Powered Smart Glasses as Competition Intensifies 
Gulf Sovereign Funds Unite in Paramount–Skydance Bid for Warner Bros Discovery 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Apple App Store Injunction Largely Upheld as Appeals Court Rules on Epic Games Case 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Coupang was reportedly investigated by South Korea’s Fair Trade Commission due to allegations that the e-commerce company tampered with algorithms so it can prioritize its own products. This was reported by insiders this weekend.
According to The Korea Herald, the FTC conducted an unannounced inspection at Coupang’s headquarters located in Seoul. Based on the report, the allegation it violated the country’s Fair Trade Act prompted the commission to carry out the look-over last month.
The allegation against the e-commerce giant
It was claimed that Coupang altered its platform’s search algorithms to ensure that its own products appear on the top searches and top of the page. As a result, the items from other companies were bumped down to the bottom, so they had less exposure.
In addition, Coupang was also accused of demanding the suppliers to only give the lowest prices. If they do not follow this, they are reportedly threatened with disadvantages. And this is not all, as the FTC is also checking if Coupang pressured its suppliers into buying ads and cut them out of its subscription-based delivery service as a form of retaliation.
It was noted that Naver also had a similar case, and it was fined ₩26.7 billion or around $23 million for manipulating its search algorithms on its e-commerce platforms. The purpose is the same as what Coupang was accused of, which is to place its own products on the top search results.
Coupang to start a business in Singapore
Meanwhile, amid this investigation, it was also reported that Coupang is now starting its business in Singapore. In fact, the company already hired the needed senior executives for its operations in Southeast Asia.
"Coupang completed the hiring of senior roles such as heads of retail, logistics and operations in Singapore,” The Korea Times quoted a company official as saying. “It also hired below C-suite executives in roles such as logistics, marketing and IT."
It was shared that the job openings for the position were posted on Coupang Rocket Your Career website, and apparently, the response was good. Thus, the senior executives are now complete at this point.
Finally, Coupang chose Singapore as the base for expansion in Southeast Asia as it has a robust market, and it would be easier to reach and expand to other Asian countries from here. The company’s goal is to replicate Amazon’s success even with the competitors in Asia, such as Lazada and Shopee.
