South Korea’s privacy regulator fined Coupang 624.7 billion won (US$409 million) over a data leak affecting 33.67 million users.

The breach occurred after a former employee hacked the company’s system. The penalty sets a national record in a privacy case.

The Personal Information Protection Commission said the breach was larger than the previous SK Telecom case. That incident affected 23.24 million users and resulted in a then-record 134.8 billion won (US$89 million) fine.

Under the current Personal Information Protection Act, penalties for data leaks can reach up to 3% of total revenue.

An amendment due to take effect in September will raise the ceiling to 10% of total revenue for large-scale breaches.

The change will not apply to Coupang’s case.

🔗 Source: The Korea Times

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