[Alpha Biz= Paul Lee] South Korea’s leading e-commerce platform Coupang is facing mounting pressure after a major personal data breach triggered what local consumers dubbed “Talpang,” or account withdrawals from Coupang, with the impact now reflected in financial results.

According to industry data, U.S.-listed Coupang Inc. posted annual revenue of approximately KRW 49.1 trillion last year, falling short of the anticipated KRW 50 trillion mark. Fourth-quarter operating profit plunged 97% year-on-year to about KRW 11.5 billion, with an operating margin of just 0.09%.

Coupang said the data breach, which began affecting operations in December, negatively impacted revenue growth, active customer numbers, Wow membership subscriptions, and overall profitability. Active customers fell to 24.6 million in the fourth quarter, down 100,000 from the previous quarter.

Chairman Kim Bom-suk issued a public apology during an earnings conference call, expressing regret over the incident. However, critics argued that the apology lacked specificity toward affected Korean customers. Civic group People’s Solidarity for Participatory Democracy criticized the company, warning that similar misconduct in the United States could have resulted in massive civil liabilities.

As Coupang’s rapid growth shows signs of strain, competitors are accelerating expansion efforts. Naver has launched an AI-powered personalized shopping agent within its Naver Plus app, positioning it as a differentiated alternative to Coupang’s price-focused search model.

Naver’s “N Delivery” service has seen transaction value rise 77% year-on-year, while early-morning delivery volumes and product listings have increased sharply. Its partnership with grocery platform Kurly under the “Kurly N Mart” brand has also reported strong growth.

Meanwhile, SSG.com expanded its nationwide dawn delivery service in partnership with CJ Logistics and introduced a grocery-focused membership program offering cashback rewards, affiliate discounts, and bundled streaming benefits.

Despite intensifying competition, Coupang said it is seeing a recovery in user activity this year and expressed confidence that customers who previously left the platform will return.

 

 

 

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