Coupang posts surprise loss after data breach fallout deepens

SEOUL – E-commerce giant Coupang reported a surprise loss in the fourth quarter, underscoring the strain on the company following a massive data breach in South Korea, its main market.

The company swung to a loss of US$26 million (S$32.9 million) in the fourth quarter from a year-earlier profit. The loss was one US cent a share on an adjusted basis. Analysts had estimated a profit of 3.4 US cents a share.

Net revenue rose 11 per cent to US$8.8 billion, short of the projected US$9.1 billion. 

The number of active customers totalled 24.6 million, up 8 per cent from a year earlier but down from 24.7 million in the previous three-month period.

Its US-listed shares fell about 3 per cent in late New York trading on Feb 26.

Personal data from nearly 34 million Coupang customers was compromised in 2025 in the biggest data breach in South Korean history. The incident triggered multiple government probes, raised regulatory scrutiny and led Coupang’s head of Korean operations to resign.

Coupang’s shares have tumbled more than 30 per cent since the breach was disclosed in late November, reflecting growing uncertainty about the ongoing investigations and customer backlash. 

In January, the company launched a 1.69 trillion won (S$1.49 billion) compensation plan, offering customers about US$35 each in vouchers for various services, including luxury item purchases and food delivery.

Critics and consumer groups slammed the vouchers as a “gimmick” that forced shoppers to keep spending money on Coupang’s platform.

Coupang has also been drawn into trade tensions between the US and South Korea following an intense lobbying campaign in Washington.

The company’s ties to the US go as high as Mr Kevin Warsh, US President Donald Trump’s pick for the next Federal Reserve chair. Mr Warsh has been a Coupang board member since 2019. BLOOMBERG