Coupang launches information security committee after data leak
Summary
Coupang Corp. launched an Information Security Advisory Committee on Tuesday to overhaul its security system and restore public confidence after a massive customer data leak. The move follows a record 624.7 billion won fine imposed by the Korean government in June over the breach late last year. The seven-member committee includes security, law, management and IT experts, and held its first meeting on Tuesday to discuss legal changes, security threats and countermeasures.
Key Facts
- The committee has seven experts in information security, law, management and information technology.
- Coupang CISO Brett Matthes, senior adviser Eumene Kang of Kim & Chang, and Seoul National University of Science and Technology professor Kim Hyun-kyung are among the members.
- The Korean government fined Coupang 624.7 billion won in June over the data leak.
- The breach affected more than 33 million users, which the government said was about 68 percent of South Korea's population.
- Coupang Inc. generates more than 90 percent of its total revenue from its Korean operations.

Coupang officials and outside experts mark the launch of the Information Security Advisory Committee at the e-commerce company's office in eastern Seoul, Tuesday. Courtesy of Coupang Corp.
E-commerce giant Coupang Corp. said Tuesday it has launched an information-dedicated committee to overhaul its security system and bolster public confidence in the company.
The move comes months after the company was slapped with a record fine of 624.7 billion won ($460 million) by the Korean government in June over a massive customer data leak late last year.
"We will continue to improve our security system by incorporating the expertise and know-how of specialists, while striving to exceed global standards," a Coupang official said.
The Information Security Advisory Committee consists of seven experts in information security, law, management and information technology (IT), the company said.
They include Coupang Chief Information Security Officer (CISO) Brett Matthes, Eumene Kang, a senior adviser at law firm Kim & Chang, and Kim Hyun-kyung, a professor at Seoul National University of Science and Technology.
At their first meeting Tuesday, the committee members discussed changes in relevant laws and regulations, growing security threats in the market and possible countermeasures.
U.S.-listed parent company Coupang Inc., which generates more than 90 percent of its total revenue from its Korean operations, came under intense public criticism and scrutiny in Korea following the disclosure of the customer data breach in November last year.
The government found that the data breach affected more than 33 million users, equivalent to about 68 percent of the Asian country's total population.
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