Trump Traded Coupang Stock 18 Times Since Taking Office, Raising Conflict Questions

President Donald Trump bought and sold shares of New York-listed Coupang 18 times through an asset manager between October last year and May this year, public financial disclosure records show.

Trump held and traded Coupang common stock in two investment accounts. The remaining holdings are estimated at a face value of as much as $130,000. Trump’s side has said the trades were handled through independent asset management during his term and that he was not involved in managing the portfolio.

An analysis of Trump’s public financial disclosure filings, including OGE Form 278e and 278-T, recently released by the U.S. Office of Government Ethics, shows he held or traded Coupang Class A common stock through “Investment Account #7” and “Investment Account #8.”

On Oct. 9, 2025, Trump bought Coupang stock in two transactions, one valued at $1,001 to $15,000 and another valued at $50,001 to $100,000. He made an additional purchase on Oct. 16, 2025, worth $1,001 to $15,000.

He also sold Coupang stock valued at $15,001 to $50,000 on Oct. 16, 2025. That was followed by additional sales on Nov. 10, 2025, in the ranges of $15,001 to $50,000 and $1,001 to $15,000, and another sale on Nov. 17, 2025, worth $1,001 to $15,000.

In 2026, he sold Coupang shares on Jan. 12 in the ranges of $1,001 to $15,000 and $50,001 to $100,000. He sold another $1,001 to $15,000 on Jan. 21. He then bought Coupang stock again on Feb. 12 in the ranges of more than $100,000 and up to $250,000, and $1,001 to $15,000, followed by another purchase on Feb. 23 worth $1,001 to $15,000.

The last recorded trades came in May. Trump sold Coupang stock valued at $15,001 to $50,000 on May 18, 2026, and another $50,000 to $100,000 on May 22, 2026.

Based on the maximum values disclosed, Trump repeatedly traded holdings worth as much as $130,000 beginning in October 2025. After purchases totaling as much as $280,000 in February and sales totaling as much as $150,000 in May, shares worth as much as $130,000 remained.

Trump’s purchases and sales of Coupang stock from mid-October to mid-November 2025 came ahead of the company’s announcement of a data leak incident. His renewed buying in mid-December came as a “Coupang hearing” in South Korea began drawing attention in the U.S.

Starting in January 2026, claims began to emerge in U.S. political circles that the South Korean government was treating Coupang unfairly. In February, the U.S. House Judiciary Committee heard closed-door testimony related to Coupang.

The committee also released a report on July 1, 2026, saying the South Korean government was discriminating against U.S. companies including Coupang.

Still, as the U.S. administration and Congress step up pressure on South Korea over issues involving Coupang, the presence of Coupang shares in Trump’s asset portfolio could fuel broader conflict-of-interest concerns.

Lee Mi-na, Hankyung.com reporter helper@hankyung.com