In a significant move following a data breach, South Korea's e-commerce giant Coupang will compensate users with a total of 1.69 trillion won, equivalent to approximately $1.18 billion. This compensation plan affects around 33.7 million accounts that were compromised in the incident that occurred in November.
The company will provide each affected user with vouchers worth 50,000 won to be used for its services. This announcement comes shortly after Coupang's founder, Kim Bom, publicly apologized for the breach, acknowledging the distress caused to customers and promising improvements in cybersecurity. He did not attend recent parliamentary hearings, citing prior commitments, which has drawn criticism from lawmakers.
Following the hacking incident, there has been a notable backlash from both users and officials. The compensation package aims to address the concerns raised and restore trust in the company.