Coupang Posts Record Operating Loss Hit by Data Leak Fine

[Economy 365]

Coupang has recorded its largest operating loss since going public, weighed down by a fine for personal data leaks.

Coupang announced that its operating loss for the second quarter came to 835 billion won, turning from a surplus during the same period last year to a deficit.

The result reflects a fine of 624.7 billion won imposed by the Personal Information Protection Commission.

Coupang explained that excluding the fine, its operating loss stood at 219.2 billion won.

Following the first quarter, this marks two consecutive quarters of deficits, bringing the cumulative operating loss for the first half of the year to 1.1895 trillion won.

On the other hand, second-quarter revenue rose 4 percent year-on-year to a record high of 13.3007 trillion won.

Active customers for core businesses such as Rocket Delivery also increased by 3 percent from a year earlier to 24.7 million.

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