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FSS to probe Coupang Pay to confirm no leakage of payment details

Published: 02 Dec. 2025, 20:39

The picture shows the Coupang headquarters in southern Seoul on Dec. 1. [NEWS1]

The Financial Supervisory Service (FSS) is launching an on-site inspection of Coupang Pay, a subsidiary of Coupang, in connection with the massive personal data leak at the e-commerce giant, to verify the companies' claims that no payment information was leaked and examine data management practices.

The FSS issued a formal notice to Coupang Pay announcing the inspection on Tuesday, according to financial authorities. The investigation is expected to last about a week.

The FSS previously received a report from Coupang about the data breach and instructed Coupang Pay to conduct its own internal probe. Coupang Pay, which operates the platform’s simplified checkout system as a payment gateway subsidiary, submitted a written report asserting that customer payment information was not leaked. However, the FSS decided to carry out a direct inspection. The agency is reportedly concerned by the sharp increase in the reported number of compromised records — from 4,500 initially to 33.7 million at present.

The FSS also plans to conduct a full review of Coupang Pay’s systems for handling and managing payment information. It will investigate whether the company complied with security obligations and determine if any violations of the Electronic Financial Transactions Act occurred.

Financial authorities have vowed to take a tough stance on recent hacking and data breach incidents. On Monday, FSS Gov. Lee Chan-jin addressed the Coupang case during a press briefing, saying, “Security investments by Korean companies are not even comparable to the United States, and they fall well short of global standards,” adding, “A full regulatory and sanctions framework on par with the Capital Markets Act will be introduced.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM SEON-MI [[email protected]]