Coupang announces $1.18 billion compensation to South Korean users for data leak

South Korean e-commerce company Coupang announced on Monday a compensation package of 1.69 trillion won ($1.18 billion) to holders of 33.7 million accounts for a massive data leak that has drawn backlash from users and lawmakers.

Coupang said users will get vouchers of 50,000 won each for its various services.

The plan comes a day after Coupang founder Kim Bom issued his first public apology for the data breach and pledged to expedite compensation measures. 

However, Kim has declined to attend parliamentary hearings scheduled for Tuesday and Wednesday, citing prior commitments.

 ($1 = 1,434.6000 won)

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Reuters

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