Due to a significant data breach that exposed the information of over 30 million consumers last year, South Korea fined online retail behemoth Coupang a record $400 million (£299 million). The penalty is the most that Seoul’s Personal Information Protection Commission (PIPC) has ever imposed for a data breach.
The largest e-commerce platform in South Korea, Coupang, is sometimes compared to Amazon. The hack revealed the names, contact information, shipping details, and order histories of some of its customers.
Coupang stated to the BBC that it “deeply regrets the concern caused” and that it would bolster its security protocols, but it also stated that it intended to contest the PIPC ruling. Over half of the approximately 50 million people living in South Korea are represented by the number of accounts impacted by the incident.
On Wednesday, the PIPC levied penalties of 423.6 billion won for the breach of personal data and another 201 billion won for the non-consensual data acquisition. The commission discovered that the personal information of some 37.5 million users had been compromised due to a lack of security measures, including inadequate handling of authentication signature keys and access controls.
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