Feb 14 • 07:11 UTC 🇰🇷 Korea Hankyoreh (KR)

‘Perjury’ Suspicions Against Coupang's Rogers, to Receive 6.6 Billion Won in Stock Compensation

Harold Rogers, the interim CEO of Coupang, is set to receive a stock compensation of approximately 6.6 billion won despite being under investigation for perjury related to a parliamentary hearing.

Harold Rogers, the interim CEO of Coupang, is facing police investigation for alleged perjury during a parliamentary hearing. Although he is under scrutiny, it has been revealed that he will receive stock compensation amounting to about 6.6 billion won, as announced by Coupang's parent company, Coupang, Inc. The compensation comes in the form of Performance Stock Units (PSUs), specifically 269,588 shares of Class A common stock. The timing of the stock issuance is aligned with performance metrics that Rogers has reportedly met, despite the ongoing investigation into his parliamentary testimony.

The stock compensation will be delivered in phases; the shares granted in 2022 are due to be received on the first of the next month, while those allocated from last year will be distributed quarterly starting from July 1. Rogers must remain employed until the receipt of the stocks to fully benefit from the compensation. If he receives all the shares as planned, his total ownership in Coupang will increase to 719,157 shares, putting his financial stake in the company at risk amidst these allegations.

Rogers is under investigation for allegedly providing false testimony during a parliamentary inquiry into the Coupang incident, involving a major data breach. His statements suggested that there was direction from the National Intelligence Service behind their internal investigation of the data breach, which the NIS has publicly denied. This situation has raised significant concerns regarding accountability and governance in corporate practices, particularly in light of the serious nature of the allegations surrounding Rogers' testimony and the subsequent investigation by the Seoul Police Agency's task force on Coupang's operations.

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