Coupang faces potential $770 mil. fine after data breach

Coupang, Korea’s leading e-commerce company, is facing the possibility of a record-breaking fine that could reach up to 1 trillion won ($770 million) following a massive data breach. The incident, which exposed the personal information of 33.7 million users, is now the largest data leak in the nation's history. On Saturday, Coupang confirmed that customer accounts had been compromised, with leaked data including names, email addresses and delivery address books containing phone numbers and physical addresses. Some order information was also exposed. In response, the Personal Information Protection Commission (PIPC) launched an investigation the following day to determine if Coupang failed to implement mandatory safeguards such as access control, rights management and data encryption. Under the Personal Information Protection Act, companies can be fined up to 3 percent of the revenue directly related to the compromised data. With Coupang's domestic revenue for the first three quarters of this year already at an estimated 31.226 trillion won, a maximum penalty could approach the 1 trillWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times