President Lee: "Coupang Data Breach Affects 34 Million... Implement Punitive Damages Immediately"

[Financial News] On the 2nd, President Lee Jae Myung addressed the recent Coupang personal information leak, instructing authorities to swiftly identify the cause of the incident and hold those responsible to account. He also called for institutional reforms, including strengthening the Penalty Surcharge and implementing punitive damages.
During his opening remarks at the 52nd State Council meeting held at the Office of the President of the Republic of Korea in Yongsan, President Lee stated, "A personal information leak has occurred at Coupang, the nation's largest e-commerce company. The scale of the breach is enormous, affecting approximately 34 million cases. It is truly shocking that the company failed to detect the leak for five months after the incident first occurred. I find it hard to believe."
He continued, "This is an opportunity to completely change the misguided practices and attitudes that neglect the protection of personal information, which is a core asset in the era of artificial intelligence and digital technology. Relevant ministries should refer to international cases, strengthen the Penalty Surcharge, and implement punitive damages to establish practical and effective measures."
He also urged, "As we enter a hyper-connected digital society, swiftly establish and implement a new Digital Security System that covers both the private and public sectors, representing a paradigm shift."
President Lee emphasized, "Our citizens are deeply concerned. Make every effort to prevent secondary damage from the misuse of leaked information."

west@fnnews.com Seong Seok-woo Reporter