Coupang swung to a net loss of US$570 million in the second quarter, mainly due to administrative fines of nearly $410 million related to a data breach, according to a report from Inside Retail Asia.
The fines stem from an incident that compromised customer data, and the company has been working to address regulatory requirements. The loss marks a sharp reversal from the previous quarter, when the e-commerce operator reported a profit.
For the retail sector, regulatory penalties tied to data privacy are becoming a significant financial risk. Coupang’s results highlight how compliance failures can erase gains, even for large online marketplaces.