South Korea’s largest retailer Coupang CEO resigns after major data breach upsets more than 33 mn customers

In a significant shake-up, Coupang, South Korea's leading online retail giant, announced the resignation of CEO Park Dae-jun on Wednesday. This decision follows a substantial data breach that has left over 33 million customers outraged and raised serious concerns about the company's security practices. In a public statement, Coupang expressed its deep regret for the distress caused to its customers, vowing to enhance security measures and restore public trust. The company is actively working with authorities and conducting an internal investigation to pinpoint the vulnerabilities that allowed the breach to occur. The data breach, which reportedly began in June, resulted in the exposure of personal information, including names, email addresses, phone numbers, shipping details, and fragments of order history. Fortunately, Coupang confirmed that sensitive financial information, such as payment details and login passwords, remained secure, thereby mitigating potential financial repercussions for its users. The resignation of Park Dae-jun comes in the wake of a stern warning from South Korean Prime Minister Kim Min-seok, who stated that the government would thoroughly investigate the incident and impose strict penalties if any laws were found to have been breached. The gravity of the situation was further emphasized when police conducted a raid on Coupang’s Seoul headquarters as part of the ongoing investigation, highlighting the urgent scrutiny the company is now under.