Market Chatter: Seoul Court Dismisses Coupang's Suit Over Data Protection Agency's Fine

MT Newswires Live11-06

The Seoul Administrative Court has dismissed a lawsuit filed by U.S.-listed online retail company Coupang against a 423 billion won fine by the Personal Information Protection Commission (PIPC) in June, Yonhap News Agency reported Thursday, citing the court and the agency.

The fine from the information protection authority, the biggest one it levied on a single firm, relates to privacy breaches such as a data leak that affected some 37 million users, the report said.

In a separate statement, PIPC clarified that the fine is a sanction for violating leakage prevention safety measures instead of a penalty for being hacked.

Coupang did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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