South Korea fines Coupang over $400M for breach

South Korean regulators have levied a substantial $400 million fine against e-commerce giant Coupang following a significant data breach. The incident, which occurred last year, compromised the personal information of over 34 million customers, representing a large portion of South Korea's population. Coupang, often referred to as the 'Amazon of Asia,' plans to contest the decision, highlighting a rare instance of a U.S.-based company facing such a severe penalty in the country. This event underscores the increasing scrutiny and enforcement of data privacy regulations globally, particularly for large online retailers handling vast amounts of sensitive user data.