Coupang launches information security committee after data leak

Coupang Corp., the leading e-commerce company, announced on Tuesday the formation of a dedicated information security committee aimed at enhancing its security measures and rebuilding public trust. This decision follows a significant 624.7 billion won ($460 million) fine imposed by the South Korean government in June due to a large-scale data breach that exposed the personal information of over 33 million users in November last year.

The committee, comprising seven specialists in information security, law, management, and information technology, including Coupang's Chief Information Security Officer Brett Matthes, aims to surpass global security standards and implement necessary improvements to the company's security system. During their inaugural meeting on Tuesday, the committee members discussed the evolving legal landscape, emerging security threats, and potential countermeasures to safeguard user data.

The parent company, Coupang Inc., which derives more than 90% of its revenue from its Korean operations, faced considerable public backlash and regulatory scrutiny over the data leak, with the government confirming that the breach impacted approximately 68% of South Korea's population.