Coupang Faces Probe Over Widest Data Hack Seen in South Korea

Core Insights - South Korean authorities are investigating a significant data leak at Coupang Inc., affecting approximately 33.7 million accounts, which represents a major cybersecurity incident in a country with a population of 51.7 million [1][4]. Company Summary - Coupang reported that it first became aware of the data breach on November 18, initially identifying exposure in about 4,500 accounts, but later investigations revealed the total number of affected accounts to be 33.7 million [4]. - The unauthorized access reportedly began on June 24, and Coupang has since blocked the access route and enhanced internal monitoring [4][5]. - The company has issued an apology for the incident and is cooperating with authorities during the investigation [5]. Industry Summary - The incident highlights increasing cybersecurity risks in South Korea, as evidenced by previous breaches at other companies, including SK Telecom, which faced a $97 million fine for data protection failures [3]. - Other companies like KT Corp. and Lotte Card Co. have also reported data leaks in recent months, indicating a broader trend of cybersecurity vulnerabilities within the industry [3].