Coupang Inc. faces the possibility of a record fine by the data protection regulator after the New York-listed e-commerce giant suffered a massive breach of customer information, according to industry sources Thursday.
The Personal Information Protection Commission (PIPC) has vowed stern action after Coupang said last week that the personal information of 33.7 million customers had been compromised, raising questions about the size of the fine the company could face.
Under the personal information protection law, companies that suffer personal information leaks can be fined up to 3 percent of their total sales, although sales from businesses unrelated to the violation can be excluded.
Based on Coupang's sales last year of 41 trillion won (US$27.8 billion), the company could have a fine of up to 1.2 trillion won imposed.
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