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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Card transaction approvals at Coupang fell by nearly 1.9 million over a two-week period following the company’s large-scale personal data breach, signaling a potential consumer shift away from the platform.
According to an analysis by The Dong-A Ilbo based on data submitted by Rep. Cho Seung-hwan of the People Power Party, the number of Coupang card transaction approvals processed by six major card issuers—KB Kookmin, Shinhan, Woori, Hana, Samsung, and Hyundai—declined to 44.95 million between last month’s 30th and this month’s 13th. This represents a drop of about 4% (1.88 million transactions) compared with the previous two-week period.
Over the same timeframe, total approved payment amounts fell by roughly KRW 12.7 billion (about 1%), from KRW 1.40 trillion to KRW 1.39 trillion.
Five of the six card companies reported declines in transaction volumes, with Shinhan Card posting the largest decrease at 6.76%, followed by Hyundai Card (4.69%), Samsung Card (3.93%), KB Kookmin Card (3.23%), and Hana Card (2.64%). Woori Card was the only issuer to record a slight increase of 0.22%.
Industry observers say the figures suggest a growing “Coupang exit” trend, as consumers disappointed by the company’s response to the data breach increasingly shift everyday purchases such as groceries and daily necessities to rival platforms.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
