including details belonging to more than four million non-members who had been listed as delivery recipients.  South Korea’s privacy regulator, the Personal Information Protection Commission, concluded that the breach resulted from shortcomings in the company’s basic security measures rather than a sophisticated cyberattack. In June, the commission fined Coupang 423.6 billion won over the breach and a further 201.1 billion won for collecting records of users’ online activity without a legal basis. Coupang recorded $410 million in administrative fines in its second-quarter accounts, accounting for most of the swing from profit to loss. The company posted an adjusted operating loss of $146 million and adjusted EBITDA of $163 million after excluding the charge.  The customer number that isn’t in the accounts Founder and chief executive Bom Kim said during the company’s earnings call that reported revenue growth understates what is actually happening to customer behaviour. “The vast majority of our customers’ spending never moved,” he told analysts. “That group is spending at the highest levels in our history. The spend that did leave was a minority of the total, and most of it has already returned.” Excluding customers who left during the incident and have not returned, Kim said, spend is growing around 16 per cent year over year, which is closer to the spend growth Product Commerce delivered in Q2 last year before the incident. Active customers of 24.7 million, up 3 per cent and recovered from 23.9 million in Q1, and Wow membership now above pre-incident levels, both support the recovery case. Coupang did not disclose the size of the missing cohort, and 8 per cent of the cohort reached the top line. Where the margin went Product Commerce’s gross profit was $2.27 billion, and its EBITDA fell to $382 million from $663 million.  “We plan capacity and fixed costs against a predicted demand curve, and much of that capacity has long lead times,” Kim said. “With revenue temporarily below that plan, those costs represent a larger share of revenue today. We could cut them significantly,y but we’ve chosen not to, because the right long-term decision is to grow into the capacity.”  He also flagged meaningful volume-based savings in its supply chain that the company is missing this year, and deliberately raised marketing spend to win customers back, to be reduced once the period is lapped. “We run this business with precision on capacity utilisation and volume economics… It’s also why a sudden shock is more visible in our numbers than it might be somewhere else. And the same discipline that makes the disruption more visible is what will enable us to reverse it.” The working arm  Developing Offerings is the counterweight. Net revenues of the segment were up 24 per cent to $1.43 billion, and its EBITDA loss narrowed to $219 million, led by Taiwan, Eats and Farfetch. “Eats and Rocket Now are today sustainable on a combined basis,” Kim said.  Baemin and Coupang Eats together accounted for 88.3 per cent of Korea’s delivery app market by weekly active users in May, the highest share recorded, according to WiseApp data. Delivery Hero has been exploring the sale of its Baemin operator, Woowa Brothers, and Uber has become its largest shareholder.  Taiwan remains the largest single drain.  “Taiwan reached it in just one year”, against four in Korea for Dawn Delivery,” Kim said.  The guidance leaves out Neither the release nor the call quantifies the fire that destroyed part of Coupang’s Incheon fulfilment centre in July. The blaze burned for more than 61 hours across the sixth and seventh floors of an eight-storey facility.  Industry estimates put the damage at several hundred billion won, once building, inventory and business interruption are factored in. Coupang has reportedly agreed to fully compensate Rocket Growth sellers for lost inventory. The precedent sits in Coupang’s own reconciliation table: the trailing 12 months to June 2025 included a $175 million fulfilment centre fire insurance gain. Recoveries and disruptions rarely land in the same quarter. Further reading: How South Korea’s e-commerce giant Coupang is paying for a data disaster.