(URGENT) Privacy watchdog fines Coupang record 624.7 bln won over major data leak, unauthorized data collection

South Korea's personal information protection commission has imposed a record fine of 624.7 billion won on e-commerce giant Coupang. The penalty stems from allegations of significant data breaches and the unauthorized collection of customer information. The watchdog determined that Coupang failed to adequately protect user data, leading to potential privacy violations.

This action marks the largest fine ever issued by the commission. The investigation focused on how customer data was handled and secured by the company, highlighting concerns about the scale of the alleged misconduct. Coupang has not yet issued a formal response to the penalty.

This substantial fine underscores the increasing regulatory scrutiny on major tech companies regarding data privacy and security practices.