The stock price of Coupang, the number one in the domestic e-commerce industry, where a large-scale personal information leak occurred recently, has plummeted in the US stock market.
On the 1st (local time), Coupang finished trading at $26.65 in the New York Stock Exchange, down 5.36% from the previous trading day. The intraday loss widened to a maximum of 7.21%, and the free market also plummeted by 9.2%.
Global Investment Bank Barance explained, “Although Coupang, Korea's largest e-commerce platform, had a relatively successful year this year, its stock price plummeted due to large-scale infringement where the personal information of 33.7 million customers was leaked.”
The stock price of Coupang fell 16.66% for about a month from the 3rd of last month to this day. Despite the positive results in the 3rd quarter, the stock price continued to weaken. In particular, it is believed that the recent leak of personal information is shrinking investment sentiment and acting as further downward pressure.
Coupang revealed on the 18th of last month that it first confirmed that the personal information of approximately 4,500 accounts had been exposed. Later, during the investigation, it was revealed that approximately 33.7 million accounts revealed names, emails, phone numbers, addresses, and some order information without permission.
It is reported that personal information was leaked by a Chinese developer who worked for Coupang in the past. The Seoul National Police Department's Cyber Investigation Department has begun an investigation into the personal information leak.
Meanwhile, the Ministry of Science and ICT plans to set up a public-private joint investigation team to analyze the cause of the accident and prepare measures to prevent recurrence in connection with the large-scale leak of personal information from Coupang. Collective action movements, such as claims for damages against Coupang, are also observed, mainly among some users.
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