Why South Korea imposed its biggest-ever $409 million data breach penalty on Coupang
South Korea imposed a record fine of 625 billion won ($409 million) on e-commerce giant Coupang after authorities found major failures in the company’s handling of customer information, reported Reuters. The penalty follows an investigation into a data breach that exposed the personal information of more than 33 million customers and uncovered illegal collection of user data.
The Personal Information Protection Commission (PIPC), South Korea’s privacy regulator, announced the fine on Thursday. It is the largest penalty ever imposed on a company under the country’s data protection laws, as per Reuters report.
