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Joo Byung-ki, Chairman of the Korea Fair Trade Commission (Photo: Yonhap News) |
[Alpha Biz= Kim Jisun] Korea Fair Trade Commission (KFTC) Chairman Joo Byung-ki said authorities are leaving open the possibility of imposing a business suspension on Coupang following a recent large-scale customer data breach.
Speaking on KBS’s Newsline W on Thursday, Chairman Joo stated that if Coupang fails to take adequate measures to remedy consumer harm caused by the data leak, a suspension of business operations could be considered.
He added that if the incident is deemed likely to cause substantial consumer damage, the commission may also consider imposing administrative fines commensurate with the severity of the violation.
However, Chairman Joo emphasized that several procedural steps must be completed before any sanctions are determined. Authorities must first establish whether consumer information was actually misused during online transactions and whether such misuse resulted in, or could result in, financial harm to consumers.
Chairman Joo noted that if a business suspension is assessed to potentially cause greater inconvenience or harm to consumers, regulators could opt instead for financial penalties.
A joint investigation task force is currently conducting a probe into the incident, and its findings will be shared with relevant government agencies. Chairman Joo stressed that clearly determining responsibility for the data breach is the top priority, and that confirming consumer harm must precede any enforcement action.
Alphabiz 김영택 기자(sitory0103@alphabiz.co.kr)
