South Korea police conducting search and seizure at Coupang — report

South Korean police are conducting a search and seizure operation at e-commerce company Coupang CPNG.N related to a corruption probe into a member of parliament, Yonhap news reported on Thursday.

Kim Byung-kee, who was previously the floor leader of the ruling Democratic Party, has been under investigation over several allegations that include a suspicion that he tried to exercise influence for personal gains.

The police declined to comment on the reported search. Coupang's South Korean office and an official at Kim's office also declined to comment.

Kim is accused of having met a Coupang executive over a personal matter in violation of an ethics law that governs public officials' conduct.

Coupang's South Korean operation is under a separate government investigation over a massive leak of local customer data that triggered a backlash from the public and lawmakers.

Subsequently, two major U.S. investors of U.S.-listed Coupang Inc., the parent company that generates most of its revenue in South Korea, have petitioned the U.S. government over what they said was discriminatory treatment of a U.S. company.

U.S. members of Congress and officials have expressed concern about the probe into the data leak. South Korean officials said regulators are handling the Coupang case in the same way that any Korean company would be.

-Jack Kim, Kyu-seok Shim/Reuters