Coupang Inc reported fourth-quarter operating profit of 11.5 billion won ($8 million), down 97 percent from a year earlier, and posted a net loss of 37.7 billion won. Fourth-quarter revenue rose 11 percent to 12.81 trillion won, though it fell 5 percent from the previous quarter. The company said a large-scale personal data leak negatively affected revenue growth, active customers, Wow membership and profitability. Annual revenue was 49.12 trillion won and net profit 303.0 billion won.

Kim Jong-hyun (김종현), CEO of Kookon, was elected the sixth chairman of the Korea Fintech Industry Association, as the industry focuses on unresolved tasks including regulatory risk. Financial authorities are tightening requirements across prepaid limits, the introduction of a MyPayments business, stronger payment risk management for e-finance operators and financial soundness checks for lower-tier PG firms. The industry says the key issue is how rules are applied, and Kim has proposed legal status for the association and shared compliance infrastructure.