U.S. Ambassador to South Korea: U.S. Firms Deserve a “Fair Competitive Environment”

Michelle Steel, the U.S. ambassador to South Korea, said Tuesday that U.S. companies operating in South Korea deserve a “fair competitive environment.” According to Sina Finance, her remarks came a day after South Korea’s antitrust regulator announced a fine against e-commerce giant Coupang for abusing its market-dominant position. Steel made the comments at a forum hosted by an alliance of South Korean and U.S. lawmakers. She did not name Coupang, a U.S.-listed company. Washington has recently expressed dissatisfaction several times with South Korean regulatory and other measures that could affect U.S. companies operating there. Steel said the two countries’ presidents had promised last year that U.S. companies in South Korea would receive fair competitive conditions, adding that this begins with greater mutual understanding.