#South Korea #Seoul #Data Breach #Hagens Berman #Coupang

Coupang Under Fire: Investigations into Data Breach Lawsuit

Coupang, Inc., the South Korean e-commerce giant often referred to as the 'Amazon of South Korea,' is facing a significant legal challenge. The well-known shareholder rights law firm, Hagens Berman, is scrutinizing the company over allegations related to a major data breach that has raised serious concerns among investors. This investigation serves as a reminder for those who purchased Coupang shares between May 7, 2025 and December 16, 2025, with a lead plaintiff deadline of February 17, 2026.

The lawsuit claims that Coupang misled investors by emphasizing its 'proactive security' measures while, in reality, it allegedly failed to identify a data breach that affected approximately 33.7 million customer accounts for nearly six months. Reports suggest that a former employee exploited authentication keys, which were still active long after their departure from the company. This breach has not only resulted in considerable financial losses but has also led to the resignation of the CEO and concerns about over $8 billion being wiped off the company's market value.

Allegations of Cybersecurity Failures

The complaints filed detail a troubling narrative regarding Coupang's cybersecurity protocols. The lawsuit asserts that the company misrepresented the robustness of its cybersecurity measures and that it did not adequately protect both internal and external systems from breaches. The failure to secure sensitive customer information poses a serious risk that malicious entities may infiltrate internal systems, which appears to have happened in this instance.

Furthermore, the investigation claims that Coupang was aware of the risks associated with a breach as early as June 2025 but did not disclose this information to investors, thereby compromising the integrity of their communications. Instead of providing transparency, the company allegedly concealed the materialization of this threat.

Timelines and Consequences

It was only on November 29, 2025, that Coupang acknowledged the breach, revealing that sensitive personal data was unlawfully accessed. This access reportedly began on June 24, 2025, and involved unauthorized access to a vast trove of customer information. The revelation came at a heavy price. Coupang's CEO Park Dae-joon resigned soon after the incident, and the company appointed Chief Administrative Officer Harold Rogers as interim CEO.

The consequences for Coupang did not end with the departure of its CEO. On December 16, 2025, the company informed investors that it was under investigation from Korean regulators while highlighting that former employees may have accessed sensitive customer data, including names, phone numbers, delivery addresses, and email information for millions of accounts.

Next Steps for Affected Investors

Hagens Berman’s investigation is aimed at supporting investors who suffered losses during this tumultuous period. The firm is calling on anyone affected by these developments to contact them as they could be eligible to participate in potential lawsuits against Coupang. The firm's partner, Reed Kathrein, has indicated that they are focused on understanding why Coupang's cybersecurity framework failed to detect unauthorized access for such an extended period.

For impacted investors, there are options available. With the lead plaintiff deadline approaching, now is the time to consider filing due claims for the losses incurred due to the allegedly negligent practices at Coupang.

This breach highlights the critical importance of robust cybersecurity practices, particularly for companies that handle large volumes of sensitive customer data. As investigations continue, all eyes remain on Coupang as both regulatory bodies and shareholders seek accountability amidst growing concerns in the tech-driven market environment.

For those looking for more information on joining the litigation process or to understand their rights as investors, the website of Hagens Berman provides valuable resources and options for filing against Coupang.