South Korean President Lee Jae Myung called for tougher penalties for corporate negligence in data breaches after a leak at e-commerce giant Coupang Inc. exposed 33 million customers’ personal data, Reuters reported. Current law allows for fines of up to 3% of revenue, which could exceed 1 trillion Korean won ($680 million) for the company based on its 2024 results. Coupang also faces a a possible class-action suit after failing to detect the breach for five months.
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