Lee Chan-jin, governor of the Financial Supervisory Service, said on the 3rd that he went on-site to check whether Coupang Pay's payment information was leaked and that he would also consider switching to an inspection.
Kim Hyun-jung, a lawmaker from the Democratic Party of Korea, said at an emergency question-and-answer session of the National Assembly's Political Affairs Committee on the Coupang personal information leak on the day, "Under Coupang's 'one ID' policy, if you sign up for Coupang, you are automatically signed up to use Coupang Pay," and added, "It is as if the front gate to access Coupang Pay has been breached. We must verify whether there was a financial incident."
In response, the governor said, "Regarding the one ID policy, it seems Coupang and Coupang Pay had a prior agreement and came to use the platform together," and explained, "We began an on-site check at Coupang Pay yesterday, and as soon as we verify the facts, we will decide whether to switch to an inspection and respond proactively."
Coupang Pay is Coupang's Fintech subsidiary. Under current law, it falls under electronic financial business operators and is subject to supervision and inspection by the financial authorities.
The Financial Supervisory Service launched an on-site check the previous day to verify whether payment information was also leaked, following the leak of personal information. This is to determine whether Coupang's report to the Financial Supervisory Service that there was no payment information leak is true. If additional problems emerge during the check, the Financial Supervisory Service will switch to an inspection and look into the details.