Coupang posts record quarterly loss of $556 million after data breach fine

Coupang Inc. recorded its largest quarterly operating loss since its U.S. stock market debut in 2021, posting a deficit of $556 million (835 billion won) in the second quarter. This marks the second consecutive quarter of losses, following a shift into the red in the first quarter after a major data breach.

The substantial financial hit in the second quarter was significantly influenced by a 624.7 billion won penalty imposed by the Personal Information Protection Commission. This fine is directly linked to a large-scale data leak incident that occurred last year.

Despite the increased operating loss, Coupang's revenue saw a modest rise. Sales reached $8.856 billion (approximately 13.3 trillion won), a 4% increase compared to the same period last year. However, this revenue growth was overshadowed by the financial impact of the data breach penalty.

Looking ahead, the company anticipates continued profitability pressures. The third quarter is expected to include additional financial burdens stemming from a fire at its Incheon logistics center. This ongoing series of setbacks suggests that Coupang will face sustained challenges in improving its financial performance in the near future.