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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

GM Korea's Nov. sales decline 11.7% on weak demand

GM Korea, the Korean unit of General Motors, said Monday its monthly sales declined 11.7 percent in November from a year earlier. The company sold 43,799 vehicles last month, down from 49,626 a year ago, GM Korea said in a release. Domestic sales plunged 46.6 percent year-on-year to 973 from 1,821, while exports dropped 10.4 percent to 42,826 from 47,805. The Chevrolet Trax crossover SUV led the overseas sales with 27,328 sales, followed by the Trailblazer compact SUV with 15,498. The automaker's current lineup consists of two locally assembled models — the Trailblazer and the Trax Crossover — and two imported models —the Colorado pickup and the GMC Sierra Denali.

Dec 1, 2025By Yonhap
GM Korea's Nov. sales decline 11.7% on weak demand

Coupang founder avoids responsibility despite catastrophic data breach

Despite a massive data leak at Coupang that is unnerving Koreans, its founder and de facto head Kim Bom-suk, also known as Bom Kim, has been absent from the accountability debate. This is prompting criticism that the company’s ownership and governance structure enables him to maintain dominant control over the e-commerce giant while avoiding responsibility for major incidents. Park Dae-jun, CEO of Coupang Corp. (Coupang Korea), on Sunday apologized for the data leak of 33.7 million customers — presumably its entire customer base — and said the company will closely cooperate with relevant authorities to prevent further issues and review its data security system. The number of known victims represents nearly 65 percent of Korea’s population, and public anger is intensifying over the company’s inadequate security practices and handling of the incident. Multiple online forums have opened to organize a potential class-action suit against Coupang, including one on Naver that surpassed 70,000 members on Monday. Lawmakers have also raised their voices, calling for accountability and

Dec 1, 2025By Nam Hyun-woo
Coupang founder avoids responsibility despite catastrophic data breach

Online commerce platforms on alert as Coupang set to face fine over data leak

Korean online platforms were seen carrying out emergency reviews of their data protection status, with Coupang widely expected to face major fines following a data breach, sources said Monday. On Saturday, the U.S.-listed e-commerce giant said personal information of 33.7 million customers has been compromised, far higher than the 4,500 cases it initially believed to have been affected. The figure indicates that nearly all Coupang users may have had their personal information, including names, phone numbers, email addresses and delivery details, leaked. Coupang, which provides overnight delivery of fresh food and daily necessities, is one of the most widely used shopping platforms in Korea with 34 million monthly active users in November, up 0.68 percent from a month earlier. Under Korea's privacy law, companies with a data breach can face fines of up to 3 percent of their revenue. SK Telecom, the country's top mobile carrier, received a fine of 134.8 billion won ($91.7 million) after a breach in April. "We carried out an emergency internal security check over the weekend," said an offici

Dec 1, 2025By Yonhap
Online commerce platforms on alert as Coupang set to face fine over data leak

K-SURE to provide $2 bil. in financial support to UAE's largest oil company

The Korea Trade Insurance (K-SURE) said Monday it plans to provide financial support worth $2 billion to Abu Dhabi National Oil (ADNOC), the United Arab Emirates' largest petroleum company, to help Korean firms' business projects in the Middle Eastern country. The financial support will be provided in return for ADNOC's efforts to secure project orders for Korean firms and purchase Korean-made materials and equipment, K-SURE said. The deal comes as a follow-up measure to a memorandum of understanding (MOU) signed between the two sides for strategic business cooperation during President Lee Jae Myung's visit to the Middle Eastern nation last month. Under the MOU, the two sides will cooperate in facilitating exports of Korean goods and services for artificial intelligence, renewable energy and power grids to the Middle East, according to K-SURE.

Dec 1, 2025By Yonhap
K-SURE to provide $2 bil. in financial support to UAE's largest oil company

Coupang faces potential $770 mil. fine after data breach

Coupang, Korea’s leading e-commerce company, is facing the possibility of a record-breaking fine that could reach up to 1 trillion won ($770 million) following a massive data breach. The incident, which exposed the personal information of 33.7 million users, is now the largest data leak in the nation's history. On Saturday, Coupang confirmed that customer accounts had been compromised, with leaked data including names, email addresses and delivery address books containing phone numbers and physical addresses. Some order information was also exposed. In response, the Personal Information Protection Commission (PIPC) launched an investigation the following day to determine if Coupang failed to implement mandatory safeguards such as access control, rights management and data encryption. Under the Personal Information Protection Act, companies can be fined up to 3 percent of the revenue directly related to the compromised data. With Coupang's domestic revenue for the first three quarters of this year already at an estimated 31.226 trillion won, a maximum penalty could approach the 1 trill

Dec 1, 2025By Ko Dong-hwan
Coupang faces potential $770 mil. fine after data breach

Police currently tracking Coupang data breach suspect using IP address

Police said Monday they are tracking down the suspect behind a massive data breach at e-commerce giant Coupang after securing the Internet Protocol (IP) address that was used. The breach began in June, leading to the leak of personal information of nearly 34 million customers, such as names, emails, mailing addresses and phone numbers, the company said Saturday. A former employee, a Chinese national who has since left Korea, has been identified as the perpetrator, it said. "We are analyzing server logs submitted by Coupang," an official with the Seoul Metropolitan Police told reporters. "We have secured the IP used by the suspect in the crime, and are tracking them down." The official said the police are also verifying the suspect's nationality, whether they have left the country after quitting the company, and whether they are the same person that sent an email to Coupang threatening to disclose the breach. Police began an internal investigation into the case last month after the company initially reported a data breach affecting some 4,500 people. A formal investigation began last week a

Dec 1, 2025By Yonhap
Police currently tracking Coupang data breach suspect using IP address

Asset managers' Q3 net more than doubles on commission income gains

Asset management firms in South Korea saw their combined profit more than double in the third quarter from a year earlier on a rise in commission income, data showed Monday. The combined net income of asset management firms here came to 945 billion won ($643 million) in the July-September period, up from a net profit of 413 billion won a year earlier, according to the preliminary data from the Financial Supervisory Service (FSS). From three months earlier, their net profit also rose 10.4 percent, the data showed. The increase was largely attributed to a rise in commission income. The companies' combined operating income came in at 996 billion won in the third quarter, compared with an operating income of 391 billion won a year earlier. Their return-on-equity, a major gauge of profitability, stood at 21.9 percent at the end of September, up from 10.6 percent a year ago. Total assets under management stood at 1,868.8 trillion won as of end-September, up from 1,633.8 trillion won a year earlier, according to the data. There were 505 asset management firms here as of end-September, the FSS said

Dec 1, 2025By Yonhap
Asset managers' Q3 net more than doubles on commission income gains

Coupang apologizes over info leak affecting 33.7 mil. customers

Coupang offered a public apology over a massive customer data leak, Sunday, pledging efforts to prevent further issues. The apology came after it was made public that the number of affected people has reached 33.7 million — presumably all Coupang customers — and the cyber intrusion allegedly began five months ago. Unlike other data leak cases committed by outside cyber criminals, it is suspected that the incident at the nation’s largest e-commerce platform operator was committed by a former employee who is a Chinese national, highlighting the company’s lax internal management. The company and the government on Sunday confirmed that the data of some 33.7 million customers had been leaked, making it one of the largest privacy breaches in decades. That figure was a sharp jump from 4,500, its initial estimate of affected customers announced on Nov. 18. The number of victims could be the same as Coupang’s total number of customers with memberships. The company has not disclosed those numbers, but when it released its third-quarter business performance earlier this month, it said its

Nov 30, 2025By Ko Dong-hwan
Coupang apologizes over info leak affecting 33.7 mil. customers

Mercedes-Benz spurs young athletes’ dreams with charity run

Mercedes-Benz is creating a meaningful cycle of giving with its annual charity run, Give ’N Race, aimed at supporting promising young athletes in pursuing their dreams. As part of the initiative, the company’s social contribution committee donated 150 million won ($102,000) raised through the fundraising event to 50 adolescent and children athletes through its Give ’N Dream scholarship program in September. Since its launch in 2020, the program has provided a total of 900 million won in scholarships to 300 talented youth. This year, it expanded its support beyond sports like taekwondo, football and judo, to now include climbing, table tennis, basketball and triathlon, offering more opportunities to young athletes in various fields. Among this year’s awardees, figure skating prospect Lee Youn-ho was selected as a featured scholarship recipient, receiving support through the committee for competition and training expenses, equipment and injury treatment. Give ’N Dream operates in conjunction with Give ’N Race, which was designed to encourage public participation in charity. Sin

Nov 30, 2025By Lee Gyu-lee
Mercedes-Benz spurs young athletes’ dreams with charity run

Nexon stock price sets new high amid outlook on record earnings

Gaming giant Nexon has set a new high in its stock price on the back of the strong global launch of its latest titles and solid performance of its long-running franchises, driving its market capitalization to reach 3.1 trillion yen ($19.8 billion). The Korean company’s stock closed at 3,768 yen on the Tokyo Stock Exchange Thursday, surpassing its previous all-time high set in April 2021. It has been trading in the 3,600 yen to 3,700 yen range since the third-quarter earnings were released on Nov. 11, and managed to reach a new high as investors showed confidence in Nexon’s long-term growth trajectory. Nexon noted that its CEO Lee Jung-hun’s intellectual property (IP) strategy has played a crucial role in the market optimism. During Nexon’s Capital Markets Briefing in Tokyo last September, Lee outlined a two-track plan focused on vertical growth through core IP expansion and horizontal growth by cultivating new IP, targeting to raise its revenue to 750 billion yen by 2027. “Under the IP expansion strategy, (Nexon) plans to accelerate the growth of both its core franchises and n

Nov 30, 2025By Lee Gyu-lee
Nexon stock price sets new high amid outlook on record earnings
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