Human Times

APAC Edition

10th December 2025

THE HOT STORY

Coupang CEO quits after huge online data breach

The chief executive of Coupang, South Korea’s biggest online retailer, has stepped down, taking responsibility for what is one of the country’s biggest data leaks. Park Dae-jun said he is "deeply regretful" about the incident, which exposed the information of 33.7m customers. Coupang said he will be replaced on an interim basis by Harold Rogers, chief administrative officer of its parent company in the US. The news came after Prime Minister Kim Min-seok said that the government will launch a thorough investigation and take stern action against any legal violations committed by the company. A National Assembly hearing has been scheduled for December 17th, with founder and chair Kim Bom-suk among those formally summoned to testify.

STRATEGY

Amazon to invest over $35bn in India’s AI and cloud push by 2030

Amazon has pledged more than $35bn in fresh investment to India’s cloud and artificial intelligence (AI) infrastructure by 2030, building on its previous $40bn spend. Announced at the Smbhav Summit in New Delhi, the initiative aims to boost AI-led digitisation, create 1m jobs, and quadruple exports to $80bn. The move underscores Big Tech’s deepening commitment to India, following Microsoft’s recent $17.5bn AI investment in the country.

REGULATION

Commonwealth Bank hit with record fine

Australia's Commonwealth Bank has been fined A$792,000 for failing to enable data sharing for business consumers, marking the highest penalty for breaches of the country's Consumer Data Right (CDR) rules. The Australian Competition and Consumer Commission found that customers could not share their data for accessing CDR-enabled products, leading to reliance on less secure methods. The bank voluntarily reported the issue.

Daily Mail

CYBERSECURITY

Korean cybersecurity firm warns of fake tax invoices

Malicious tax invoice files linked to North Korean hackers have been discovered in a security threat targeting South Koreans, according to ESTSecurity, a Seoul-based cybersecurity firm. The firm reported that the files contain the KimJongRAT remote access Trojan, which is associated with the Kimsuky hacking group. The disguised PDF files lead users to download harmful content. ESTSecurity said: "KimJongRAT remains an extremely effective attack method in environments with weak security features." Users are advised to update their software and verify file extensions before opening files.

Korea Joongang Daily

TECHNOLOGY

KPMG redefines performance with AI metrics

KPMG has introduced a new performance review system that evaluates staff based on their use of artificial intelligence tools. The change reflects a significant shift in how professional services firms assess value and performance. A July study from MIT revealed that 95% of AI initiatives fail to impact the bottom line, making it imperative for firms to focus on human capital and skills. KPMG's leadership emphasises that all employees must integrate AI into their work, signalling a cultural shift towards technology-driven value creation.

Bloomberg Law

LEGAL

Lawyers rake in $48m in huge BHP settlement

Lawyers from Maurice Blackburn and Phi Finney McDonald have secured $48m from the major shareholder class action against BHP over the catastrophic collapse of the miner's tailings dam in Brazil, significantly in excess of the original 15% cap that was delivered as an undertaking to the Federal Court in 2019 when the matter was consolidated. One senior class action lawyer for plaintiffs said: “they've gotten away with more than I've ever seen . . . I've seen law firms charge high amounts in the past but I've never seen this kind of scale in getting away with more than originally promised . . . It doesn't matter what you say to group members – you can just change the position. The judge has just rubber-stamped it.”

Financial Review

INTERNATIONAL

US bank executives say AI will cut jobs

Reuters reports that US banks including JPMorgan Chase and Wells Fargo say artificial intelligence will likely cause job losses at their companies while boosting productivity. Wells Fargo chief executive Charlie Scharf said the lender has not reduced the number of staff, but observed "we're getting a lot more done" because of AI. "There are other places out there where we're gonna be able to look at and figure out, how are we able to do more with less people," he said. "It's not going to totally replace humans, but does create an opportunity to do things significantly different."

Reuters

Starbucks faces global protests as unions rally behind striking US baristas

Starbucks workers and union supporters in 10 countries, including the UK, Germany, and Australia, staged coordinated protests yesterday in solidarity with 3,000 striking US baristas. The US workers, represented by Starbucks Workers United, are calling for better pay, staffing, and resolution of hundreds of labour disputes. While Starbucks says the strike has had minimal business impact, international demonstrations aim to escalate pressure amid stalled contract talks and ongoing labour tensions.

BBC News

UBS may cut another 10,000 jobs by 2027

Swiss lender UBS could cut an additional 10,000 jobs by 2027, according to a report in SonntagsBlick. UBS did not confirm the number, but said it would "keep the number of jobs cuts in Switzerland and globally as low as possible," adding "The role reductions will take place over the course of several years and will be mostly achieved through natural attrition, early retirement, internal mobility and inhousing of external roles."

Reuters

Amazon pays €180m to settle Italian tax and labour investigation

Amazon has paid €180m ($210m) to Italian authorities and ended the use of a delivery staff monitoring system, closing a probe into alleged tax fraud and labour violations by its logistics unit. The investigation centred on the use of subcontractors to sidestep VAT and social security obligations. Amazon joins over 30 companies that have collectively paid more than €1bn to resolve similar cases.

Bloomberg Tax

Reuters

OTHER

China's express delivery boom continues

China's express delivery market reached a record 180bn deliveries in the first 11 months of 2024, peaking at 777m daily, according to state media reports. Despite an economic slowdown, e-commerce thrives, driven by discounts and competitive pricing. Andy Xie, an independent economist, noted that e-commerce platforms are more competitive than traditional shopping malls. Courier revenues grew 13% year on year to 1.4tn yuan ($198bn). However, analysts warn that increased delivery numbers do not equate to higher consumer spending, as prices drop and return rates rise.

South China Morning Post

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