Coupang Inc. Faces Intensified U.S. Congressional Scrutiny Amid Data‑Leak Investigation
Coupang Inc. (NASDAQ: CPG), the South‑Korean‑originated e‑commerce and logistics firm listed on the New York Stock Exchange, is currently under investigation by U.S. lawmakers over a data breach that affected approximately 33.7 million Korean users. The inquiry, carried out by the House Judiciary Committee’s Administrative State, Regulatory Reform and Antitrust Subcommittee, culminated in a closed‑door deposition of interim chief executive officer Harold Rogers on Monday, February 24, 2026. The deposition, which lasted more than seven hours, followed a subpoena issued on February 5, 2026, marking the first formal congressional hearing involving the company.
Key Developments
| Date | Source | Summary |
|---|---|---|
| 2026‑02‑24 | Koreatimes | Rogers declined to comment on his testimony or the committee’s commitment to a “constructive resolution.” |
| 2026‑02‑24 | Koreaherald | The hearing was part of an investigation into “South Korea’s discriminatory targeting of innovative American companies,” with the data breach cited as a central issue. |
| 2026‑02‑24 | BusinessKorea | U.S. House legislators grilled Rogers in a 7‑hour deposition; no public statements were released by the CEO. |
| 2026‑02‑24 | Yonhap News Agency | Coupang reiterated its commitment to resolving the issues in South Korea while under probe. |
| 2026‑02‑24 | Koreatimes | The company expressed regret over the situation that led to the CEO’s U.S. testimony. |
| 2026‑02‑23 | Koreaherald | Coupang hired Kirkland & Ellis for its U.S. data‑breach defense. |
| 2026‑02‑23 | Koreajoongang Daily | Civic groups called for a probe into unauthorized payments potentially linked to the breach. |
| 2026‑02‑23 | The Diplomat | New U.S. tariffs may add complexity to the U.S.–South Korea relationship following a Supreme Court ruling on previous tariffs. |
Context for Investors
- Financial Position: As of February 22, 2026, Coupang’s share price closed at $18.58. The company’s 52‑week high and low were $34.075 and $16.74, respectively. Market capitalization stands at approximately $34.25 billion USD.
- Valuation: The price‑earnings ratio is 90.04, reflecting high growth expectations relative to earnings.
- Sector Impact: The data‑breach inquiry and potential U.S. tariff implications could affect the company’s operations, supply chain, and regulatory compliance costs.
- Strategic Response: Coupang’s engagement of a prominent U.S. law firm and its public statements emphasize a willingness to cooperate and resolve the matter. However, the prolonged deposition and ongoing U.S. congressional attention suggest continued regulatory scrutiny.
Outlook
The immediate effect of the congressional hearing is a heightened focus on Coupang’s data‑security protocols and its relationship with South Korean regulators. While the company has not yet disclosed any financial material impact, the possibility of additional regulatory actions or tariffs could influence investor sentiment. Analysts should monitor the progression of the U.S. investigation, any resulting regulatory findings, and the company’s subsequent disclosures regarding operational adjustments or compliance costs.
