Regulatory scrutiny targets loan pricing and vendor impact The Financial Supervisory Service opened an investigation into Coupang Financial’s loan products, which charge interest rates ranging from 8.9% to 18.9% [1]. FSS Governor Lee Chan‑jin labeled the rates “unacceptable” and suggested the loans may generate excessive profits for the fintech arm [1]. The loans are primarily offered to sellers operating on Coupang’s e‑commerce platform, raising concerns about predatory lending practices [1].

Data‑breach fallout intensifies oversight of the group The loan probe follows a massive data breach that exposed personal information of more than 33.7 million customers, far exceeding the company’s initial estimate of 3,000 accounts [1][2]. The breach has prompted broader regulatory attention, including a customs investigation into the company’s cross‑border financial flows [2]. Government officials have dismissed Coupang’s unilateral statements about the breach, emphasizing that investigations remain ongoing [1].

Customs inquiry examines intercompany money transfers In December 2025, the Korea Customs Service dispatched a team to Coupang’s Seoul office to review foreign‑exchange transactions between the South Korean unit and its U.S. headquarters [2]. Investigators will assess whether intercompany payments and profit reporting complied with Korean regulations [2]. The customs probe aims to determine if revenue and cost allocations between the entities were accurately recorded [2].

Compensation plan announced amid mounting pressure In response to the breach, Coupang unveiled a compensation package valued at 1.68 trillion won, offering each affected customer a 50,000‑won discount and coupon [2]. The plan seeks to mitigate consumer backlash while regulators continue their separate inquiries into financial practices [1][2]. Both the FSS and customs investigations remain active, with no final conclusions released yet [1][2].

Potential regulatory outcomes could reshape fintech lending If the FSS finds the loan terms violate consumer protection standards, Coupang Financial may face fines, mandated rate reductions, or stricter oversight [1]. The customs probe could result in adjustments to intercompany transfer pricing and possible penalties for non‑compliance with foreign‑exchange rules [2]. Combined, the investigations signal heightened scrutiny of large tech conglomerates’ financial subsidiaries in South Korea.