Abrams Capital, Durable Capital Partners, and Foxhaven have joined a legal challenge against the South Korean government. These three U.S. investment firms follow Greenoaks and Altimeter, who initiated the action in January 2026. The dispute centers on Seoul’s regulatory response to a massive 2025 data breach at e-commerce giant Coupang.
The investors allege that the government's actions violated the U.S.-Korea Free Trade Agreement. They claim that discriminatory scrutiny and defamatory statements resulted in billions of dollars in losses for U.S. shareholders. The firms have formally notified Seoul of their intent to pursue an investor-state dispute settlement (ISDS).
South Korean officials have denied all allegations of misconduct. The government maintains that its investigation into the Coupang data breach was conducted lawfully and without discrimination.