Overview
- South Korea formed an interagency task force led by the science ministry that met on Dec. 23 to investigate the breach affecting 33.7 million users, with officials warning of stern measures if violations are found.
- The National Tax Service opened a special audit on Dec. 22, sending investigators to Coupang’s Seoul offices to examine domestic records and transactions tied to the U.S. headquarters, including potential profit‑shifting.
- In the United States, Rosen Law Firm filed a securities class action on Dec. 18 in the Northern District of California naming founder Bom Kim and CFO Gaurav Anand, and Bernstein Liebhard announced a separate shareholder action.
- The investor complaints say inadequate controls let a former employee retain access for months and accuse Coupang of failing to report the incident to the SEC in a timely way; Coupang filed an 8‑K on Dec. 16 and has said payment data and passwords were not exposed.
- Coupang’s NYSE shares fell about 18% from Nov. 28 to Dec. 19, police raided the Seoul headquarters on Dec. 9, and subsidiary chief Park Dae‑jun resigned earlier this month.