Market watchers say a large personal data leak is unlikely to have had a significant impact on Coupang's fourth-quarter results.

IGAWorks Mobile Index said on Jan. 7 that Coupang's estimated card payment volume in the fourth quarter of 2025, from October to December, totalled 13.2474 trillion won. That was up 39.7 percent from a year earlier, when it was 9.4857 trillion won.

December's estimated payment volume fell 3.04 percent from the previous month, suggesting the personal data leak had some impact.

Coupang's estimated payment volume in the fourth quarter was 4.4365 trillion won in October, 4.4735 trillion won in November and 4.3373 trillion won in December. In 2024, it rose consecutively, with 3.1080 trillion won in October, 3.1433 trillion won in November and 3.2345 trillion won in December.

MarketScreener said securities industry revenue forecasts for Coupang in the fourth quarter are in the range of $9.284 billion to $9.68 billion, equivalent to 13.4479 trillion won to 14.02015 trillion won. The low end is forecast to rise about 17 percent from a year earlier and the high end about 21.5 percent.

Coupang earlier expected full-year 2025 revenue to rise by around 20 percent.

JPMorgan, which holds a 1 percent stake in Coupang, said in a recent report that "potential customer losses (churn) will be limited" given its unrivalled market position and the sensitivity of Korean consumers to data leak issues.