Coupang Acknowledges Additional Data Breaches, Prompting Concern from South Korean Official Over US Relations

U.S.-listed South Korean e-commerce giant Coupang confirmed on Thursday, February 5, that an additional 165,000 users have been affected by a significant security breach. This incident has raised concerns among South Korean officials, who believe it could jeopardize the country’s alliance with the United States.

Coupang Korea has been under scrutiny from the South Korean government following a previous data leak that compromised personal information of over 33 million customers. This situation has strained trade and security relations between the two nations.

In its latest announcement, Coupang revealed that the recent breach involved the exposure of contact details, including names, phone numbers, and addresses. Fortunately, no payment information or login credentials were compromised. The company has assured that affected users have been notified in accordance with government guidelines.

As the primary revenue generator for its parent company, Coupang Inc., Coupang Korea has faced significant backlash from both the public and lawmakers after the initial data leak was disclosed. The breach, which impacted approximately two-thirds of South Korea’s population, has led to extensive police investigations, regulatory scrutiny, and lawsuits against the company. Additionally, U.S. investors and lawmakers have expressed concerns about perceived discriminatory actions targeting an American firm.

Compounding its troubles, Coupang is currently undergoing a tax audit in South Korea, and a legal complaint has been filed against its founder and former executives by the country’s parliament.

Wi Sung-lac, the South Korean presidential national security adviser, emphasized the broader implications of the Coupang issue, stating that it affects key trade and security matters between South Korea and the U.S. In an interview with the Kyunghyang daily, he noted that former President Trump’s decision to increase tariffs on South Korean goods from 15% to 25% was “linked” to the Coupang situation, along with other issues such as South Korea’s tightening regulations on digital platform operators that could impact U.S. companies.

“We have established ties with the U.S., China, and Japan, but one pillar of that relationship is being shaken by discussions of raising tariffs,” Wi remarked.

In light of these events, South Korean President Lee Jae Myung has called for stringent penalties for negligence related to data breaches, asserting that the Coupang leak should serve as a critical wake-up call for the industry.

(Reporting by Kyu-seok Shim and Jack Kim; editing by Bernadette Baum and Sharon Singleton)

Related:

Topics
USA

U.S.-listed South Korean e-commerce giant Coupang confirmed on Thursday, February 5, that an additional 165,000 users have been affected by a significant security breach. This incident has raised concerns among South Korean officials, who believe it could jeopardize the country’s alliance with the United States.

Coupang Korea has been under scrutiny from the South Korean government following a previous data leak that compromised personal information of over 33 million customers. This situation has strained trade and security relations between the two nations.

In its latest announcement, Coupang revealed that the recent breach involved the exposure of contact details, including names, phone numbers, and addresses. Fortunately, no payment information or login credentials were compromised. The company has assured that affected users have been notified in accordance with government guidelines.

As the primary revenue generator for its parent company, Coupang Inc., Coupang Korea has faced significant backlash from both the public and lawmakers after the initial data leak was disclosed. The breach, which impacted approximately two-thirds of South Korea’s population, has led to extensive police investigations, regulatory scrutiny, and lawsuits against the company. Additionally, U.S. investors and lawmakers have expressed concerns about perceived discriminatory actions targeting an American firm.

Compounding its troubles, Coupang is currently undergoing a tax audit in South Korea, and a legal complaint has been filed against its founder and former executives by the country’s parliament.

Wi Sung-lac, the South Korean presidential national security adviser, emphasized the broader implications of the Coupang issue, stating that it affects key trade and security matters between South Korea and the U.S. In an interview with the Kyunghyang daily, he noted that former President Trump’s decision to increase tariffs on South Korean goods from 15% to 25% was “linked” to the Coupang situation, along with other issues such as South Korea’s tightening regulations on digital platform operators that could impact U.S. companies.

“We have established ties with the U.S., China, and Japan, but one pillar of that relationship is being shaken by discussions of raising tariffs,” Wi remarked.

In light of these events, South Korean President Lee Jae Myung has called for stringent penalties for negligence related to data breaches, asserting that the Coupang leak should serve as a critical wake-up call for the industry.

(Reporting by Kyu-seok Shim and Jack Kim; editing by Bernadette Baum and Sharon Singleton)

Related:

Topics
USA