Top Headlines

Feeds

Coupang Posts Record 2025 Sales While Founder Apologizes for 33.6 Million Data Breach

Updated (118 articles)
  • Harold Rogers, interim CEO of e-commerce giant Coupang Corp., walks to a House hearing at the Capitol in Washington on Feb. 23, 2026. (Yonhap)
    Harold Rogers, interim CEO of e-commerce giant Coupang Corp., walks to a House hearing at the Capitol in Washington on Feb. 23, 2026. (Yonhap)
    Image: Yonhap
    Harold Rogers, interim CEO of e-commerce giant Coupang Corp., walks to a House hearing at the Capitol in Washington on Feb. 23, 2026. (Yonhap) Source Full size
  • A Coupang logistics center in South Korea (Yonhap)
    A Coupang logistics center in South Korea (Yonhap)
    Image: Yonhap
    A Coupang logistics center in South Korea (Yonhap) Source Full size
  • Coupang founder Kim Bom-suk is seen in this undated AFP file photo. (Yonhap)
    Coupang founder Kim Bom-suk is seen in this undated AFP file photo. (Yonhap)
    Image: Yonhap
    Coupang founder Kim Bom-suk is seen in this undated AFP file photo. (Yonhap) Source Full size
  • A Coupang logistics center in South Korea (Yonhap)
    A Coupang logistics center in South Korea (Yonhap)
    Image: Yonhap
    A Coupang logistics center in South Korea (Yonhap) Source Full size
  • Coupang founder Kim Bom-suk is seen in this undated AFP file photo. (Yonhap)
    Coupang founder Kim Bom-suk is seen in this undated AFP file photo. (Yonhap)
    Image: Yonhap
    Coupang founder Kim Bom-suk is seen in this undated AFP file photo. (Yonhap) Source Full size
  • Coupang founder Kim Bom-suk is seen in this undated AFP file photo. (Yonhap)
    Coupang founder Kim Bom-suk is seen in this undated AFP file photo. (Yonhap)
    Image: Yonhap
    Coupang founder Kim Bom-suk is seen in this undated AFP file photo. (Yonhap) Source Full size
  • A Coupang logistics center in South Korea (Yonhap)
    A Coupang logistics center in South Korea (Yonhap)
    Image: Yonhap
    A Coupang logistics center in South Korea (Yonhap) Source Full size

Record 2025 Financial Performance Amid Breach Fallout Coupang reported 2025 sales of 49.11 trillion won, an 18.9 % year‑on‑year increase, and net income surged to 303 billion won, more than tripling the prior year’s profit while operating profit rose 12.7 % to 679 billion won[1][2]. The company highlighted that these figures set a new corporate high despite the ongoing data‑leak controversy. Analysts noted the strong top‑line growth was driven by expanded marketplace activity and higher‑margin services.

Quarterly Loss Highlights Immediate Breach Cost In the fourth quarter ending 31 December, operating profit plunged 97 % to 11.5 billion won and the firm posted a net loss of 37.7 billion won, even as sales grew 15 % to 12.81 trillion won[2]. Coupang attributed the swing to a compensation package of 50,000 won per affected user and related remediation expenses[1]. The company warned that the breach also dampened revenue growth, active customers, and paid Wow membership uptake.

Breach Scope Revised to Over 33.6 Million Accounts Initial estimates of roughly 3,000 compromised accounts were dramatically revised after a joint public‑private inspection uncovered exposure of more than 33.6 million user accounts[2][3]. The leak affected personal data across South Korean consumers, prompting the firm to issue both a written apology in December and a verbal apology from founder Kim Bom‑suk during the earnings call[1][2]. The company acknowledged that the incident eroded customer trust and slowed membership growth.

U.S. Regulatory Scrutiny Intensifies After Data Leak On 23 February, interim CEO Harold Rogers appeared before the House Judiciary Committee’s Administrative State, Regulatory Reform and Antitrust Subcommittee, where he declined to answer reporters’ questions about South Korean consumers[3]. Representatives Jim Jordan and Scott Fitzgerald issued a subpoena demanding further testimony, underscoring heightened U.S. oversight of the Seoul‑based, U.S.-listed e‑commerce platform[3]. Rogers’ silence on consumer concerns highlighted the firm’s limited public communication strategy amid the investigation.

Sources

Related Tickers

by TradingView

Timeline

June 24, 2025 – Unauthorized access to delivery‑related personal data begins on overseas servers, later identified as the start of a breach that will eventually expose 33.7 million South Korean customers[29][30].

Nov 18, 2025 – Coupang discovers the breach, notifies authorities within two days and initially reports only about 4,500 compromised accounts, before realizing the scale is far larger[26][27].

Nov 30, 2025 – CEO Park Dae‑jun publicly apologizes, the government holds an emergency meeting led by Science Minister Bae Kyung‑hoon, and police identify a former Chinese employee as the likely insider behind the leak that began on June 24[26][28].

Dec 3, 2025 – Park tells lawmakers that compensation will be considered for the breach affecting nearly 34 million users, though no concrete plan is announced yet[23].

Dec 4, 2025 – The Personal Information Protection Commission warns it may impose a record fine of up to 1.2 trillion won and threatens to revoke Coupang’s ISMS‑P certification, marking the harshest regulatory response to date[24].

Dec 6, 2025 – The government decides to make the Information Security Management System (ISMS) mandatory for telecom and online‑platform firms, a policy shift triggered by the Coupang breach[22].

Dec 6, 2025 – Coupang revises its public notice to label the incident a “data breach,” assures that no secondary damage has been recorded, and outlines new anti‑phishing precautions[21].

Dec 8, 2025 – Seoul Metropolitan Police raid Coupang’s headquarters, seizing digital evidence to trace the breach’s route and identify the leaker[20].

Dec 10, 2025 – Park Dae‑jun resigns as CEO, citing responsibility for the data leak; the National Tax Service launches an in‑depth audit of Coupang’s U.S.‑linked profit‑shifting structures[19][17].

Dec 17, 2025 – Interim CEO Harold Rogers apologizes at a National Assembly hearing and says a compensation package is being assembled, pending the investigation’s conclusion[18].

Dec 28, 2025 – Founder Kim Bom‑suk declines to attend a parliamentary hearing, stating his overseas residence and prior commitments prevent participation[16].

Dec 30, 2025 – Science Minister Bae Kyung‑hoon confirms that more than 33 million users’ names, emails and addresses were leaked, criticizes Coupang’s “extremely malicious” unilateral announcement, and notes the 1.685 trillion‑won compensation plan of 50,000 won per user[15].

Dec 31, 2025 – The National Assembly’s Science, ICT, Broadcasting and Communications Committee files a complaint against seven Coupang executives, including Rogers, for alleged testimony violations[14].

Jan 8, 2026 – Police summon interim CEO Harold Rogers for questioning as a special task force expands the probe to include alleged cover‑ups and deleted access logs[14].

Jan 12, 2026 – FTC Chair Ju Byung‑gi tells a radio program that a temporary suspension of Coupang’s operations may be ordered if consumer relief is insufficient, and notes a former employee stole data from 33.7 million accounts[13].

Jan 14, 2026 – The Personal Information Protection Commission orders Coupang to remove its unverified internal probe results and urges the company to add a user‑facing breach‑lookup tool to its app and website[12].

Jan 18, 2026 – Cheong Wa Dae officials state the data‑leak investigation is a domestic matter, not a Korea‑U.S. trade issue, while U.S. lawmakers voice concerns about possible discriminatory enforcement[11].

Jan 19, 2026 – The Korean American Public Action Committee warns the leak could strain Seoul‑Washington relations and urges transparent compensation; a U.S. House member calls Korean regulators’ actions “aggressive targeting”[9].

Jan 19, 2026 – SK Telecom files a lawsuit in Seoul Administrative Court to overturn a 135 billion‑won data‑breach fine, the largest ever imposed by the regulator[10].

Jan 23, 2026 – Prime Minister Kim Han‑seung tells U.S. lawmakers there is no discrimination against Coupang and notes that investors Greenoaks and Altimeter plan arbitration against Seoul over alleged punitive enforcement actions[8].

Jan 24, 2026 – Former Trump adviser Robert O’Brien posts on X that the National Assembly’s probe constitutes “aggressive targeting” of a U.S. firm and calls for a “strong, coordinated U.S. response”[4].

Feb 3, 2026 – Former CEO Park Dae‑jun appears for police questioning on alleged perjury regarding statements about a logistics worker’s death, pledging cooperation with investigators[7].

Feb 6, 2026 – Interim CEO Harold Rogers is questioned by police over possible perjury concerning his claim that a laptop seizure was directed by the National Intelligence Service; he says Coupang will “fully cooperate with all government investigations”[6].

Feb 26, 2026 – Coupang reports Q4 operating profit plunges 97 % to 11.5 billion won and a net loss of 37.7 billion won despite a 15 % sales rise, attributing the swing to the 50,000‑won per‑user compensation package; founder Kim Bom‑suk apologizes in person on the earnings call[5].

Feb 27, 2026 – Coupang posts record 2025 sales of 49.11 trillion won and net income more than triples to 303 billion won, while acknowledging that the data breach affected over 33.6 million accounts and that the compensation scheme drove a quarterly operating‑profit loss[3].

Dive deeper (11 sub-stories)

All related articles (118 articles)