Coupang hit with record $409 million data breach fine in Korea

Coupang, a major South Korean e-commerce company, has been hit with a record $409 million fine by the Personal Information Protection Commission (PIPC) due to a massive data breach affecting over 37 million customers. The breach stemmed from inadequate security practices, including failures in authentication and data handling, and was exacerbated by a former employee’s actions. Coupang is offering compensation to affected customers to mitigate the damage.