South Korean Retail Giant Coupang to Compensate $1.1 Billion to Affected Users Over Data Breach

South Korean retail giant Coupang has announced plans to compensate affected users a total of $1.1 billion over a recent data breach. The company stated that it will provide customers with purchase vouchers totaling 50,000 won for various Coupang services.

According to CNBC, the data breach affected millions of users, and Coupang has taken steps to address the issue and prevent similar incidents in the future.

Compensation Details

• Total compensation: $1.1 billion
• Compensation method: Purchase vouchers totaling 50,000 won for various Coupang services

Background

The data breach was discovered in recent weeks, and Coupang has been working to contain the issue and notify affected users. The company has stated that it takes the security of its users' data seriously and is committed to protecting their information.

Reaction

The compensation plan has been met with mixed reactions from users, with some praising Coupang for taking steps to address the issue and others expressing frustration with the compensation amount.

Sources

[1] South Korean retail giant Coupang to compensate $1.1 billion to affected users over data breach