Coupang’s lies, even in the US lawsuit, saying “there was no cover-up of industrial accidents”
[special feature]Silence in Korea, denial in the US… If you criticize Two Faces over industrial accidents and personal information leaks, they say it is not true.. After some time, new evidence emerges and the explanation is revealed to be false..Coupang, which has been embroiled in controversy over the concealment of workers' deaths from overwork and industrial accidents and the leak of personal information, is repeating this process several times.. In particular, Coupang asserts Korean cases in U.S. lawsuits or government agencies., In the process of explaining the U.S. situation to Korea, claims that are different from the facts are being made.. With this in mind, sales 90%It is pointed out that Coupang, which makes profits in Korea but is headquartered in the United States, is avoiding responsibility by exploiting the information gap between Korea and the United States..Coupang “Kim Beom-seok never tried to cover up the industrial accident.”Hankyoreh21As a result of obtaining and reviewing the shareholders' lawsuit documents against Coupang filed in the U.S. District Court for the Southern District of New York,, Coupang 2023In response to shareholders' criticism that industrial accidents were intentionally hidden in 2018, “There was no cover-up of the industrial accident.”It appears that it was claimed that. The lawsuit is 2022year 8In January, Coupang shareholders, including New York City public employee pensions, “The stock price fell due to false disclosure, causing damage.”Coupang and Kim Beom-seok Coupang I&C(Inc) It was filed against the Chairman of the Board of Directors, etc.. Coupang, Chairman Kim, etc. 2021year 3month11During the listing process, the company went public while hiding the negative aspects of the company from shareholders.(IPO)It also contains information that. Coupang stock price immediately after IPO 2021year 3monthly high approx. 69It went up to the dollar 2022year 20fell to the dollar level.Shareholders claim that they suffered damages, especially after the listing, as reports of deaths from overwork and algorithm manipulation were reported.. Coupang hides its poor working conditions where workers die from overwork. ‘safe and good workplace’This means that shareholders were deceived by claiming that. In addition, shareholders said that Coupang △Price control for stores, advertising △It was pointed out that regulatory risks such as anti-competitive and unfair practices such as search algorithm and review manipulation were also reduced or omitted..The lawsuit continued 2023year 11In January, Coupang submitted a defense statement to the court regarding this claim.. This is a vehement denial of the concealment of industrial accidents.. According to the content, Coupang is concerned about poor labor issues. “Chairman Kim's past at Coupang (labor site) Recognizing safety issues (Regarding industrial accidents) Without suggesting that they were trying to cover up anything., present (labor safety) It doesn't mean I know the problem”claimed.“Never leave a note saying you worked hard”Kim Beom-seok is the CEO of Coupang, a company that has recently been controversial. ‘Industrial accident cover-up response document’It is a claim that is directly contradictory to. Hankyoreh, Munhwa Broadcasting Corporation(MBC)·Coupang information obtained by Newstapa's joint reporting team ‘Crisis management response guidelines’There is an intention to conceal the death from overwork.. In the document “Make the bereaved family on our side. (To the bereaved family) Block contaminated information”It is said that. It also contains information to prevent the expansion of investigations by the Ministry of Employment and Labor and the police.. These instructions are 2021year 1month was created, Last modified date 2023year 3It turned out to be a month.2020year 10Chairman Kim Kim(Coupang CEO at the time)CCTV, where Deokjun Jang, who died while working at the distribution center, worked.(CCTV) It was also revealed in a Hankyoreh report that an executive at the time was instructed to edit the video content to the company's advantage.. Chairman Kim “that(Deokjun Jang)Never leave a note saying that you worked hard.. Why is he a hard worker?? It doesn't make sense.. they are hourly workers”He also left a text message saying. Chairman Kim is at least 2020year 10This means that Coupang's poor labor conditions have been identified since March..There are also traces of false information in the defense statement.. On the Coupang side “Period during which shareholders claimed damages 5Only one death could be identified among Coupang's 10,000 employees”claimed that. The purpose is to deny claims of poor working conditions and emphasize that the number of deaths is extremely low.. The period that Coupang refers to is from Coupang's listing to the time when its stock price plummeted. 2021year 3month11Day2022year 7month14It's work.This also wasn't true. According to statistics from the National Logistics Center Branch of the Korean Confederation of Trade Unions and the Public Transport Workers' Union and media reports,, The number of deaths during this period is minimal, with only confirmed cases 2It's a person. 2021year 3month24In Gyesan-dong, Incheon 40Coupang courier worker dies. 2021year 12month24I was working at Coupang Dongtan Logistics Center. 50After a large worker collapsed from cerebral hemorrhage 2022year 2month11died one day.And yet 1Judge Vernon Broderick of the Southern District of New York, who presided over the trial, 2025year 9In May, Coupang's hand was ruled in favor.. The purpose is that it has not been proven that Coupang and its management intentionally tried to deceive shareholders.. The court ruled that Coupang’s working conditions, Overwork and death of workers were already known through existing reports., We judged that it was not a material false statement.. In addition, Coupang's claims about the algorithm were dismissed on the grounds that there was no specific basis.. This lawsuit is currently being appealed by shareholders. 2Sim is in progress. No problem in the US? There is a case of large-scale fines. Coupang was recently pointed out that its official position regarding the personal information leak was different from the facts.. The statement in question is 2025year 12month17This came out at a hearing on the Coupang personal information leak incident held at the National Assembly on the same day.. Coupang interim CEO Harold Rogers, who attended the hearing, said in relation to this situation: “Under U.S. law, the U.S. Securities and Exchange Commission(SEC)There was no obligation to submit a report to. In fact, this type of data leak does not violate privacy laws in the United States.”said.Experts pointed out that this claim is far from the truth.. 3700The leak of personal information of 10,000 people is highly likely to be a violation of personal information laws in the United States as well.. American law firm SJKP, a local subsidiary of Korean law firm Daeryun(SJKP)Dong-hoo Son, a New York lawyer who litigated the Coupang personal information leak case, “The leaked information is very sensitive.. Just because financial information has not been leaked does not mean that it is not a violation of the law.”saying “Personal information protection is regulated by various laws, including the Federal Personal Information Protection Act and the Consumer Protection Act.. There are many reasons to say that this situation violates the law.”said.There are also cases where large fines were imposed due to failure to protect personal information.. Typically ‘Cambridge Analytica’ The incident is mentioned. 2016This refers to the inappropriate use of Facebook user information on a large scale by a British consulting firm during the 2018 US presidential election without user consent.. The victim 8700reached 10,000 people, Facebook's information security failure is on the chopping block. U.S. Federal Trade Commission(FTC)Is 2019After a year-long investigation, Facebook was sued for violations of user privacy. 50billion dollars(approximately 7article2800billion won)A fine of.The fact that CEO Rogers said there was no obligation to disclose is also something that needs explanation.. Brian Finch, an attorney at Pillsbury Law Firm, said: “The most important criterion in determining disclosure obligations is whether the incident ‘Important Information to Shareholders’Does it apply to”saying “ Not all cybersecurity incidents automatically give rise to disclosure obligations, however., A company must be able to reasonably explain its decision whether or not it discloses it.”said. ‘Talpang’ It continues “No disruption in business”What Coupang reported to the U.S. Securities and Exchange Commission also became a source of controversy.. Coupang officially announced the personal information leak situation. 2025year 11month29after work 2After a week 12month17to the U.S. Securities and Exchange Commission ‘8-K(K)’submitted the report. U.S. listed companies are notified of important events or changes. ‘4Within business days’ This is a regular report that must be submitted..The problem was that the report was late., In this report, Coupang “major security incident”Even though there was “There are no disruptions in sales”wrote. However, criticism has been raised that this sentence also reflects the situation in Korea in a miniaturized manner.. User leaving Coupang, in other words ‘Talpang’This is because it is also revealed in these numbers.. Looking at the big data platform Mobile Index,, 12month20The number of daily active users of Coupang on a daily basis is 1484only3787By name, 10month5Day(144610,000 people) After approx. 2It's the lowest in months. The volume of card payments also decreased.. People Power Party lawmaker Cho Seung-hwan's office 6remark(KBKookmin, Shinhan, Woori, Hana, Samsung, Hyundai)Results of analyzing Coupang payment usage data, After Coupang’s personal information leak became known 11month30From work 12month13Until the day 2The number of payment approvals at Coupang per week is 4495only4173It appeared as a case. This was right before the leak was announced. 2weekly(11month1629Day)of 4683only7121than dry 188only2948case, approximately 4.1% This figure has decreased.For this reason, an additional lawsuit has been filed in the United States, claiming that Coupang deceived shareholders regarding the leak of personal information.. 2025year 12month18Coupang shareholders filed a lawsuit against Coupang, Chairman Kim, and others in the federal court in the Northern District of California. “Stock price decline due to false disclosure”filed a lawsuit claiming liability for damages. The purpose is that a major flaw was discovered even though Coupang announced that there was no security problem prior to the personal information leak incident.. Additionally, Coupang suffered a large-scale personal information leak. 2025year 11month18I recognized it, but 4Failure to comply with mandatory disclosure within business days was also included as a major reason for the lawsuit..Jangmook Kang, Professor, Graduate School of International Information Security, Dongguk University(Artificial Intelligence Security)Is “Coupang only thought about excessive use of customer information for artificial intelligence services, and its information protection system had vulnerabilities as it was an outdated system.. “(After the incident), their attitude also appears outdated,” he said. “In order to gain trust in a technology-driven society, companies that collect customer information and achieve results through artificial intelligence must also take a thorough approach to security.” Coupang did not reveal its position despite repeated inquiries from Hankyoreh 21 regarding the claims made during the U.S. trial and CEO Rogers’ comments at the hearing. Reporter Junyong Park juneyong@hani.co.kr[View full article]
Coupang’s lies in the U.S. lawsuit that “there was no cover-up of industrial accidents” (link)