SEOUL, Dec. 31 (Korea Bizwire) — Coupang disclosed the results of its controversial internal probe into a massive data breach directly to U.S. regulators without prior coordination with the South Korean government, according to filings reviewed Tuesday. In a submission to the U.S. Securities and Exchange Commission dated Monday, the U.S.-listed e-commerce giant said that [...]
SEOUL, Dec. 29 (Korea Bizwire) — Customs authorities on Monday launched an investigation into Coupang Inc.’s domestic unit to examine foreign exchange transactions with its U.S.-based headquarters, government sources said. The Korea Customs Service dispatched an investigative team to the e-commerce giant’s office in Seoul earlier in the day, the sources said. The probe will [...]
SEOUL, Dec. 26 (Korea Bizwire) — South Korea’s National Human Rights Commission said on Friday that Coupang, the country’s largest e-commerce platform, has refused to comply with its recommendation to broaden the hiring of foreign delivery workers, adding to scrutiny already facing the company over a recent personal data leak. The commission said it decided [...]
SEJONG, Dec. 25 (Korea Bizwire) — South Korea’s Fair Trade Commission said on Thursday that major online platforms and retailers have sharply increased the financial burdens placed on suppliers, with Coupang emerging as one of the largest recipients of supplier-funded promotional payments. According to a government survey of 40 major retailers across eight distribution sectors, Coupang [...]
SEOUL, Dec. 23 (Korea Bizwire) — A special counsel team raided a subsidiary of e-commerce giant Coupang Inc. on Tuesday, launching a compulsory investigation into allegations of unpaid severance pay for employees and senior prosecutors’ intervention in favor of the management. Special counsel Ann Gweon-seob sent prosecutors and investigators to the office of Coupang Fulfillment [...]
SEOUL, Dec. 10 (Korea Bizwire) — South Korea’s privacy regulator on Wednesday ordered Coupang Inc. to revise its liability exemption clause for data breaches and simplify its membership cancellation process. The Personal Information Protection Commission (PIPC) issued the instruction after reviewing the company’s terms of service, membership policy and follow-up measures in the wake of [...]
WASHINGTON, Dec. 7 (Korea Bizwire) – The global headquarters of e-commerce giant Coupang Inc. in Seattle is facing a class-action lawsuit, adding to a wave of complaints already lodged in South Korea over a massive personal data breach that affected more than 30 million customers. SJKP, the U.S. branch of Daeryun law firm, said during [...]
SEOUL, Dec. 8 (Korea Bizwire) — A series of large-scale personal data breaches at telecommunications companies and at e-commerce giant Coupang has revived concerns that South Korean firms have little incentive to purchase cyber insurance, despite growing systemic cybersecurity risks across the economy. According to a report released Sunday by the Korea Insurance Research Institute, Kwangmin [...]
SEOUL, Dec. 3 (Korea Bizwire) — E-commerce giant Coupang Inc. is facing a growing number of class-action lawsuits after a massive data breach compromised the personal information of nearly 34 million users, marking one of the largest such incidents in South Korea to date. On Monday, law firm Chung filed the first complaint on behalf [...]
SEOUL, Dec. 2 (Korea Bizwire) — Two senior Coupang executives sold tens of millions of won worth of company stock shortly after a massive data breach occurred — but before the company acknowledged the incident — raising concerns about potential insider trading. According to a Dec. 2 filing with the U.S. Securities and Exchange Commission (SEC), [...]