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AI & Enterprise

Why South Korea\'s privacy watchdog hit Coupang with a record fine

South Korea\'s Personal Information Protection Commission imposed a 624.7 billion won penalty and a 16.8 million won fine on Coupang over a large-scale personal data leak last November and the collection of personal information without legal grounds. The watchdog said the fine equals 2 percent of sales used in its calculation. It cited failures in managing certificate signing keys and inadequate intrusion detection, and said it will pursue a separate criminal complaint process.

Games & Commerce

Coupang posts operating loss of 354.5 billion won in Q1, first single-digit revenue growth since IPO

Coupang Inc posted an operating loss of 354.5 billion won in the first quarter, swinging into the red as customer compensation tied to a personal data incident and temporary logistics network inefficiency weighed on profitability. Revenue rose 8% to 12.46 trillion won, marking the first single-digit quarterly growth rate since its New York listing. Active customers fell 700,000 from the previous quarter to 23.9 million.

Games & Commerce

FTC changes Coupang controlling person to founder Kim Bum-suk; Coupang to challenge in court

South Korea\'s Fair Trade Commission on Tuesday changed Coupang\'s designated controlling person from the company to founder Kim Bum-suk. The designation affects disclosure obligations and the scope of rules on unfair internal transactions. The FTC said it concluded Kim\'s brother did not meet an exception requirement because he effectively took part in management. Coupang said it would explain its position through an administrative lawsuit and plans to file an objection within 7 days.