South Korea fines Coupang $408m over biggest data leak in country’s history

South Korea's personal information protection commission fined Coupang $408 million on December 27, 2023, for its role in the country's largest-ever data leak. The e-commerce giant failed to implement adequate safety measures to prevent the breach, which exposed the personal information of approximately 100 million users. The commission also cited Coupang's delay in reporting the incident, which occurred in September 2023, as a significant factor in the penalty. Investigations revealed that hackers accessed customer data, including names, addresses, phone numbers, and purchase histories, through an internal system vulnerability. The fine represents a substantial portion of Coupang's revenue and underscores the stringent data protection regulations in South Korea. The commission emphasized that companies must prioritize cybersecurity and promptly disclose any breaches to protect consumer trust and prevent further exploitation of sensitive data.