Coupang Fined Record 624.7 Billion Won for Data Breach, Collection

South Korea's data protection agency has imposed a record fine of 624.7 billion won on e-commerce giant Coupang. The penalty stems from a significant data breach and the company's unauthorized collection of customer information. The Personal Information Protection Commission (PIPC) found Coupang responsible for the leak of approximately 1 million customer accounts and for collecting additional data beyond what was necessary for its services.

This marks the largest penalty ever issued by the PIPC. The regulator's investigation revealed that Coupang failed to implement adequate security measures, leading to the breach. The company has stated it will appeal the decision, arguing that the data collection was within legal bounds and that the breach was due to external hacking.

The substantial fine underscores the increasing regulatory scrutiny on data privacy and security practices for major online platforms.