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

South Korean online retail giant Coupang said it will offer 1.69 trillion South Korean won ($1.17 billion) in compensation to 34 million users affected by a massive data breach announced last month.

The company said in a statement: expression It planned to offer customers purchase coupons worth a total of 50,000 won for various Coupang services on Monday local time.

Former customers who closed their Coupang accounts following the data breach will also be eligible to receive the vouchers.

Coupang said users will be able to check their coupon eligibility starting January 15, according to a Google translation of the Korean statement.

Coupang Corp.’s interim CEO, Harold Rogers, called the move “a responsible action for our customers” and said the company “will fulfill its responsibilities to the fullest.”

“Once again, I deeply apologize to our customers,” he said in the statement.

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