South Korea fines e-commerce giant Coupang $400M over data breach
18 hours ago
- #Cybersecurity Fine
- #E-commerce Regulation
- #Data Breach
- South Korea's Personal Information Protection Commission (PIPC) fined Coupang a record $400 million for a data breach.
- The breach exposed personal data of around 37.5 million users, affecting over half of South Korea's population.
- In addition to the fine, Coupang faces penalties for non-consensual data collection and plans to challenge the decision.
- Coupang's CEO resigned following the incident, and the company cited insufficient safeguards as a cause.
- The breach occurred over several months, with data compromised from as early as June through a foreign server.
- This fine is part of broader cybersecurity issues in South Korea, including other high-profile data breaches.