Coupang CEO Resigns After Data Breach | South Korea

Coupang CEO Resigns Following Major Data Breach

Park Dae-jun has stepped down from his position as chief executive of Coupang, a leading retail company in South Korea. This decision follows a significant data security incident that compromised the personal information of a substantial portion of the nation’s citizens.

Acknowledging Responsibility for the Breach

In an official statement, Park expressed his sincere apologies for the data breach. He conveyed a profound feeling of accountability, both for the initial occurrence and the efforts undertaken to restore security.

Leadership Transition at Coupang

Coupang has appointed Harold Rogers as the new chief executive. Rogers previously served as the chief legal officer for Coupang’s parent company, which is based in the United States.

Details of the Data Breach

The e-commerce and logistics leader, frequently likened to Amazon due to its market position in South Korea, disclosed details of the breach last month. Approximately 34 million individuals were affected by the incident.

Initial reports indicated the breach commenced in June, but it remained undetected until November. At first, Coupang stated that the data of over 4,500 customers had been compromised. This number was subsequently and significantly revised upwards.

Wider Trend of Security Incidents in South Korea

The Coupang hack represents the most recent in a series of security breaches impacting major corporations and governmental bodies within South Korea this year. A data center fire earlier in the year resulted in the irreversible loss of a considerable amount of South Korean government data.

Further Information

• The breach exposed the personal information of over half of South Korea’s population.
• Harold Rogers brings extensive legal experience to his new role.
• The incident highlights growing concerns about data security in the region.