^{Photo: Korean JoongAng Daily}

Coupang, one of South Korea’s largest e commerce giants, is facing a major leadership shakeup after a sweeping data breach compromised the personal information of close to 34 million users. Park Dae jun, who had served as CEO of Coupang Corp., resigned on Wednesday, marking a dramatic fallout from one of the most significant cybersecurity failures in the nation’s recent history.

The breach first surfaced publicly on November 18, triggering widespread concern among consumers and aggressive follow up by regulators. In an official statement, translated from Korean, Park apologized for the disruption and acknowledged full responsibility. He noted that the incident, along with the challenges of the recovery effort, made it necessary for him to step down from all leadership positions.

Coupang’s parent company, Coupang Inc., immediately appointed Harold Rogers, its Chief Administrative Officer and General Counsel, as interim CEO. Rogers has been tasked with restoring customer confidence, stabilizing internal operations, and overseeing a strengthened cybersecurity response. Early indications suggest that the company is preparing a multi layered strategy involving infrastructure upgrades, revised data handling protocols, and expanded risk monitoring capabilities.

Park’s departure comes after more than a decade at the company. Since joining in 2012, he helped guide Coupang through an aggressive expansion phase, including logistics innovation, delivery optimization, and the rollout of new business lines aimed at supporting small and medium sized merchants. Earlier this year, Coupang eliminated its dual CEO structure, placing Park as the sole head of Coupang Corp.

Industry analysts say this event highlights a broader issue in South Korea’s corporate environment. Peter Kim, managing director at KB Securities, told CNBC that South Korean companies often prioritize cost efficiency to an extent that leaves cybersecurity underfunded. Several major breaches over the past decade reinforce this concern. In April, SK Telecom reported a breach affecting more than 23.2 million people, and in 2011, over 35 million user accounts were compromised during attacks on popular platforms Nate and Cyworld. These repeated incidents have led some security experts to rank South Korea among the top globally in terms of frequency of large scale data intrusions.

Regulators have reacted quickly. Prime Minister Kim Min seok stated that if legal violations are uncovered, authorities will take strict action. Police raided Coupang’s headquarters for a second consecutive day on Wednesday as part of an ongoing investigation. Local media reports suggest that the search warrant identifies a former employee, a Chinese national, as a key suspect in the unauthorized extraction of confidential data.

South Korean President Lee Jae Myung also urged stronger national penalties for data breaches, describing the Coupang case as a reminder of the urgent need for systemic reform. Government officials are now reviewing potential legislative updates, including harsher fines and mandatory security audits for large digital platforms.

For Coupang, the fallout is far from over. Restoring customer trust, satisfying regulators, and overhauling internal security systems will likely define the company’s operational priorities for the foreseeable future. The breach has not only damaged its public image but also heightened scrutiny across the entire South Korean tech and e commerce sector, where expectations for data protection are rapidly increasing.