Seoul: South Korean President Lee Jae-myung on Tuesday described the massive data breach at the country’s largest e-commerce platform, Coupang, as a “wake-up call” for digital security, urging stringent penalties and higher fines to safeguard consumer privacy.
Speaking at a cabinet meeting, President Lee said it was “shocking” that Coupang remained unaware of the breach for nearly five months, despite the incident beginning in June. He emphasized that those responsible must be swiftly identified and held accountable.
The national police have launched a formal investigation into the breach, which involved personal information of approximately 33 million Coupang customers, including names, email addresses, home addresses, and phone numbers. Coupang, founded in 2010 by Korean-American entrepreneur Bom Kim and backed by Japan’s SoftBank Group, has publicly apologized for the incident.
President Lee noted, “Neglecting personal data protection and failing to take necessary precautions is unacceptable. In the age of artificial intelligence and digital commerce, data is a critical asset, and policies and practices must adapt to ensure its security.”
He directed authorities to review existing fines and penalties, ensuring that the consequences of such breaches are commensurate with their severity. He also stressed that digital platforms must convey a clear message that lapses in data security will not be tolerated.
The Coupang breach is considered the largest cybersecurity incident in South Korea over the past decade. While the leak began in June, the company only reported it to authorities in November, raising debates about corporate accountability and the timeliness of reporting data breaches.
Experts note that rapid customer growth and the expansion of new services at platforms like Coupang amplify cybersecurity risks. Any lapse in security could result in widespread damage and erode consumer trust.
This incident has also reignited discussions around data privacy and cybersecurity laws in South Korea. The government is reportedly prioritizing enhanced monitoring, stricter regulations, and punitive measures to prevent future breaches.
Coupang stated it will take all necessary steps to improve the protection of customer data. Analysts, however, emphasize that regular audits and robust cybersecurity infrastructure are crucial to preventing similar incidents in the future.
The breach has sent shockwaves through the South Korean e-commerce sector and underscores the global significance of digital data security. President Lee’s stern warning signals that protecting digital information is no longer merely a technical issue but a legal and administrative imperative.
Overall, the Coupang data breach underscores the necessity for digital platforms to secure customer data effectively and ensure rapid accountability in the event of a breach—a critical requirement in today’s technology-driven economy.
