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Games & Commerce

Court suspends KFTC designation of Coupang chairman Kim Bum-seok as controlling shareholder

A South Korean court has suspended the Fair Trade Commission’s decision to designate Coupang Inc chairman Kim Bum-seok (김범석) as the conglomerate’s controlling shareholder, pending the outcome of a lawsuit. The Seoul High Court granted part of Coupang’s request for a stay, halting the designation’s effect until 30 days after the main verdict is delivered. It also suspended the KFTC’s order seeking documents related to Kim for the same period.

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.