Coupang CEO Quits After Record Data Breach Leaks 34 Million Users
- Coupang CEO Park Dae-jun resigned after taking responsibility for South Korea's largest-ever data breach which compromised the personal information of nearly 34 million people.
- The company appointed Harold Rogers as interim CEO to manage the crisis following police raids on its headquarters and threats of severe legal action from the government.
- The breach exposed customer names and addresses and phone numbers over a months-long period raising serious questions about the e-commerce giant's cybersecurity protocols.
A catastrophic failure in cybersecurity has claimed the career of one of South Korea’s most prominent tech leaders. Park Dae jun the CEO of Coupang Inc has resigned amid the fallout from the largest data breach in the nation’s history. The incident compromised the personal information of nearly 34 million customers which represents a staggering proportion of the country’s population. Park announced his departure on Wednesday and cited a "deep sense of responsibility" for the crisis that has shaken consumer trust in the e commerce giant.
The breach is believed to have started in June and went undetected for months as hackers circumvented Coupang's security protocols. Sensitive data including names and phone numbers and shipping addresses were exposed. While the company maintains that payment details and login credentials were safe the sheer scale of the leak has triggered a national uproar. South Korean police raided Coupang’s headquarters earlier this week to seize evidence as part of a widening criminal investigation.
In a move to stabilize the reeling organization Coupang’s US based parent company has appointed Harold Rogers as interim CEO. Rogers currently serves as the Chief Administrative Officer and General Counsel for Coupang Inc. His primary mandate is to manage the internal and external crises while attempting to alleviate customer anxiety. The appointment of a legal heavyweight suggests that the company is bracing for significant regulatory and legal challenges in the wake of the disaster.
Prime Minister Kim Min seok has promised a "thorough investigation" and vowed to take stern action against any legal violations. This high level government intervention underscores the severity of the breach in Asia’s fourth largest economy. For Coupang which is backed by SoftBank Group this scandal threatens to derail its momentum just as it was solidifying its dominance in the online retail sector. The company has pledged to overhaul its information security systems but for millions of Koreans the damage is already done.