Kim Bom, the founder and chairman of South Korean e-commerce behemoth Coupang, has formally apologised to the public following a significant hacking incident in November that compromised the personal information of millions of users. The apology was posted on the official website of the company, often dubbed the 'Amazon of South Korea'.
A Belated Apology and Admission of Failure
In a letter written in Korean, the U.S.-based chairman expressed his "sincere apologies" and committed to a complete overhaul of the firm's cybersecurity systems. Kim has faced intense criticism in his home country for not attending parliamentary hearings held in Seoul earlier this month to address the breach.
"The personal information leak at Coupang has caused great concern and inconvenience to customers and the public," Kim stated. "As Coupang's founder and chairman of the board, I offer my sincere apologies on behalf of all Coupang employees." He admitted that his initial judgment to communicate only after confirming all facts was poor, and that he should have expressed his regrets from the beginning.
Recovery of Data and Investigation Details
The company provided an update on the progress of its investigation into the leak. Coupang confirmed it has now recovered 100% of the leaked customer information through cooperation with government authorities. The process involved securing a statement from the leaker and recovering all storage devices.
The investigation revealed that the customer information stored on the leaker's computer was limited to 3,000 records, and this data was not distributed or sold externally. Coupang stated it has fully cooperated with the government since the start of the probe, immediately identifying the leaker and notifying officials. The investigation is still ongoing.
Commitment to Reform and Rebuilding Trust
Looking forward, Kim Bom outlined steps Coupang will take to regain public confidence. The Board of Directors will lead the development of a compensation plan for affected Korean customers and ensure its swift implementation. Furthermore, the company promises a comprehensive revamp of its information security measures and investments.
"We will use this failure as a lesson learned and a springboard for growth, building a world-class cybersecurity system," Kim pledged. He concluded by reiterating his apology, stating, "Our customers' trust and expectations are the reason Coupang exists. We will use this incident as an opportunity to thoroughly reinvent ourselves."
