Coupang Chaos: Data Breach Debacle Leads to CEO Exit and Police Raid
Coupang’s CEO has stepped down after a massive data breach affecting 33.7 million users. Just as the dust was settling, the Seoul Metropolitan Police raided the company’s headquarters for information. Meanwhile, the new US-based executive is left to navigate the chaos and win back customer trust. What a week for Coupang!
Hot Take:
If Coupang were a sitcom, it would now be in its “jumping the shark” phase. With a CEO departure, a police raid, and a regulatory smackdown all in one week, the South Korean e-commerce giant has hit a trifecta of woes. Somewhere, a cyber villain is likely cackling in delight while Coupang scrambles to pick up the pieces like a character in a slapstick comedy skit. But hey, at least they’re keeping it entertaining for all the wrong reasons!
Key Points:
- Coupang’s CEO, Park Dae-jun, resigns amid a massive data breach affecting 33.7 million users.
- Harold Rogers, based in the US, steps in as interim CEO to address the crisis.
- The Seoul Metropolitan Police raid Coupang’s HQ as part of an investigation into the breach.
- A former Chinese employee is suspected of leaking the data, prompting a search warrant.
- South Korea’s PIPC demands Coupang revise its breach liability clauses and simplify membership cancellations.