Coupang Gains Amid Regulatory Scrutiny Over Data Breach
Coupang (CPNG) shares edged higher despite ongoing regulatory scrutiny following a 33.7 million-account data breach under South Korea’s Personal Information Protection Act (PIPA). The e-commerce giant faces potential fines of up to 3% of revenue, with compliance demands pushing local firms to adopt stricter data governance tools.
Diplomatic channels between Seoul and Washington remain open, as Prime Minister Kim Min-seok assured U.S. officials of non-discriminatory enforcement. Investors cautiously welcomed the clarity, though operational risks linger.
The breach underscores broader tensions in Asia’s e-commerce sector, where cross-border data flows increasingly collide with domestic privacy regimes. Market observers note parallels to EU GDPR enforcement patterns—where initial turbulence gave way to standardized compliance frameworks.
