South Korea Fines Coupang Record $409 Million Over Data Breach
Regulators said the breach exposed personal data of 33.67 million customers and reflected major failures in Coupang's security controls.
- On Thursday, South Korea imposed a record $409 million fine on e-commerce giant Coupang for a massive data breach affecting more than 33 million customers, marking the country's largest privacy penalty.
- Privacy regulator chairperson Song Kyung-hee attributed the breach to Coupang's lack of safety systems rather than sophisticated hacking, after a former employee stole a security key and gained unauthorized access.
- The Personal Information Protection Commission found Coupang illegally collected online activity data from around 11 million customers and failed to detect the breach within the mandatory 72 hours.
- Coupang expressed regret that its explanations were not sufficiently reflected in the regulator's decision, while investigations sparked trade friction concerns with Washington over the treatment of the U.S.-listed company.
- An upcoming amendment scheduled for this September will raise maximum penalties to 10 percent of total revenue, as the current fine represents 1.4% of Coupang's 45 trillion won revenue in 2025.
30 Articles
30 Articles
South Korea Hits E-Commerce Giant With Record $409 Million Fine Over Data Leak Of 33 Million Users
South Korean authorities have imposed a record $408 million fine on e-commerce giant Coupang after concluding that a massive data breach exposed the personal information of more than 33 million customers.
Stock Market Today, June 11: Coupang Jumps After Privacy Fine Lands Below Worst Case Fears
Coupang (NYSE:CPNG), a South Korean e-commerce platform offering diverse products and services, closed Thursday at $17.27, up 14.25%. The stock moved higher after regulators finalized a record privacy fine that came in below worst-case fears. Investors are watching how the charge affects 2026 earnings. Trading volume reached 67.8 million shares, about 197% above its three-month average of 22.8 million shares. Coupang IPO'd in 2021 and has fallen…
South Korea Fines Coupang $409 Million for Large-Scale Data Leak
A South Korean regulator fined the country’s largest e-commerce platform, owned by US-listed Coupang Inc., a record 624.7 billion won ($409 million) for a wide-ranging cyber-intrusion that escalated into a diplomatic tiff with the US.
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