Coupang pledges $1.17B in vouchers to settle record data breach

Coupang announced a 1.69 trillion won ($1.17 billion) compensation package for 33.7 million users affected by a November data breach, marking the largest payout for a single security incident in South Korea. The retail giant will distribute 50,000 won ($35) per person in the form of non-cash vouchers: 5,000 won for general e-commerce, 5,000 won for Coupang Eats, and 40,000 won split between its travel and luxury platforms. Despite the billion-dollar commitment, consumer groups and lawmakers have criticized the plan as a “marketing tool” since 80% of the value is tied to lower-traffic services, even as founder Kim Bom issued a public apology for “poor judgment” in delaying the disclosure.