Overview
- Greenoaks and Altimeter pulled their request for a USTR Section 301 investigation into South Korea’s treatment of Coupang.
- The firms said discussions with U.S. trade officials signaled plans for broader reviews of practices affecting American tech companies and digital services.
- Their investor‑state dispute pursuit under the Korea–U.S. FTA remains active, with a January notice triggering a 90‑day consultation period.
- Additional U.S. funds—including Abrams Capital, Durable Capital Partners and Foxhaven Asset Management—have joined the challenge, bringing the group’s Coupang stake to about 6.26%.
- South Korea denies discriminatory targeting and describes its actions as lawful enforcement after a breach affecting roughly 33.6–33.7 million accounts, while a U.S. trade official says Washington will press for non‑discriminatory treatment.