Seoul, May 6 (IANS) US-listed e-commerce giant Coupang said on Wednesday it swung to a net loss in the first quarter amid fallout from a massive customer data breach in South Korea.The company posted a net deficit of $266 million in the January-March period, compared with a net profit of $114 million a year earlier, Coupang said in a press release, reports Yonhap news agency.Coupang also turned to an operating loss of $242 million in the first quarter from a net profit of $154 million a year ago…
Latest Coupang News & Updates
Seoul, April 29 (IANS) South Korea’s antitrust regulator on Wednesday newly designated Kim Bom, founder of US-listed e-commerce giant Coupang, as the company’s de facto controlling entity, placing him under stricter regulatory oversight.Kim, a U.S. citizen who also serves as chairman of the board, was designated as the “same person” of the group, a legal term referring to the individual who effectively controls a conglomerate, the Fair Trade Commission (FTC) said.The FTC’s decision comes as Coup…
Seoul, April 28 (IANS) Issues between close allies should be resolved based on mutual respect and fundamental principles, South Korea’s President Lee Jae Myung said Tuesday. Lee made the remarks during a Cabinet meeting at Cheong Wa Dae, stressing that “cooperation with traditional allies should also be developed.””(We) need the wisdom to build healthy, future-oriented relations with traditional allies, while resolving pending issues based on mutual respect, common sense and principles,” he told…
Seoul, Feb 26 (IANS) South Korea’s antitrust regulator said on Thursday it has imposed a fine of 2.19 billion won ($1.54 million) on e-commerce giant Coupang for pressuring suppliers to lower prices and cover advertising costs to meet its target profit margins.Coupang was also found to have delayed payments to suppliers and failed to pay late interest, violating the Act on Fair Transactions In Large Retail Businesses, the Fair Trade Commission (FTC) said.The FTC issued corrective orders to addre…
Seoul, Feb 25 (IANS) US-listed e-commerce giant Coupang said on Wednesday that around 200,000 Taiwanese accounts were leaked in a recent data breach that affected about 33 million accounts.The announcement came after Coupang requested cybersecurity firms Mandiant and Palo Alto Networks to carry out a comprehensive forensic investigation following the breach in November 2025, reports Yonhap news agency.”This was a crime committed by a former employee against Coupang and against our customers. Whi…
Seoul, Feb 11 (IANS) Science Minister Bae Kyung-hoon said on Wednesday that the government has been conducting a probe into the South Korean unit of US-listed e-commerce giant Coupang under principle without discrimination, refuting criticism from the US political circle.Bae made the remark during a parliamentary session, after the US House Judiciary Committee began investigating what it has called South Korea’s “discriminatory targeting” of American companies last Thursday (US time), reports Yo…
Seoul, Feb 7 (IANS) Harold Rogers, interim CEO of Coupang, returned early on Saturday after a 14-hour police questioning over allegations he committed perjury while testifying before the South Korean parliament in December.Rogers is accused of lying under oath during a parliamentary hearing from Dec. 30-31 on Coupang’s massive data breach that has affected more than 33 million customers in South Korea, reports Yonhap news agency.He told lawmakers that Coupang conducted its own probe into a Chine…
Seoul, Feb 6 (IANS) The interim chief executive of Coupang, Harold Rogers, was set to undergo police questioning on Friday over perjury allegations related to his testimony to lawmakers last year, marking his second appearance before investigators in a week.Police seek to question Rogers about allegations that he gave false testimony under oath about Coupang’s internal investigation into its massive data breach during a two-day parliamentary hearing on the leak in late December, reports Yonhap n…
Seoul, Feb 5 (IANS) E-commerce giant Coupang said on Thursday it has discovered a data leak of personal information from more than 165,000 customer accounts linked to an incident it first identified in November last year.The leaked data includes names, phone numbers and addresses entered by customers on the address list for shipping, and the company has notified affected customers of the breach in line with recommendations from the state personal information protection watchdog, Coupang said.The…
Seoul, Jan 31 (IANS) The interim CEO of Coupang underwent 12 hours of intensive police questioning over allegations of destruction of evidence linked to a massive data breach at the e-commerce company.Harold Rogers emerged from the Seoul Metropolitan Police Agency on Saturday at 2:22 am, declining to answer reporters’ questions on whether he admitted to the charges or intended to leave the country, reports Yonhap news agency.Rogers faces accusations of obstructing official investigations into th…