Coupang chief executive officer Park Dae-jun stepped down due to his inability to avert South Korea’s most significant data breach to date, which triggered a regulatory and political outcry against the nation's leading online merchant.
TL;DR
- Coupang CEO Park Dae-jun resigned following South Korea's largest data breach.
- Harold Rogers appointed interim leader; investigation into the five-month breach ongoing.
- The breach exposed delivery destinations and contact numbers for two-thirds of Korea's population.
- Coupang faces potential 1 trillion won penalty; founder Bom Kim summoned by lawmakers.
On Wednesday, the firm announced in a declaration that Park had resigned due to his involvement in the security incident. They designated Harold Rogers, the chief administrative officer for the retailer's American parent organization Coupang Inc., to serve as the temporary leader.
Park has emerged as the most prominent victim of a situation that has triggered a governmental inquiry and impacted the daily routines of countless individuals throughout Korea. Approximately two-thirds of the nation's population experienced consequences from the security lapse, which allowed illicit entry to their delivery destinations and contact digits.
Authorities conducted a search of Coupang's main offices this week to gather information that might assist in understanding the nature of the security incident and identifying the perpetrator, according to Yonhap News, which referenced official sources.
Authorities have stated that the intrusion occurred over a five-month period during which the firm's digital defenses were circumvented. Last week, President Lee Jae Myung commented that it was “truly astonishing” that Coupang had not identified unauthorized entry into its networks for an extended duration.
Park confronted legislators this month during a lengthy grilling. In response to inquiries regarding news articles suggesting the assault was perpetrated by a past staff member who had since gone back to China, he stated that a Chinese citizen who departed the firm and had been a “developer working on the authentication system” was implicated.
Lawmakers stated that the firm could be subject to a penalty reaching 1 trillion won (equivalent to $681 million) concerning the event.
Coupang's founder, Bom Kim, has been requested to attend a legislative session on December 17th, as elected officials have cautioned about potential repercussions should the wealthy entrepreneur not present himself.
Park's exit introduces new doubt regarding Coupang's executive team, a mere seven months following the company's internal reorganization that appointed him as the singular CEO for Its South Korean activities. In his updated position, Rogers will concentrate on resolving client issues and fortifying the business, according to Coupang.
