Coupang Announces 1.69 Trillion Won Breach Compensation

South Korean e-commerce giant Coupang announced on Monday a compensation package valued at 1.69 trillion won, or about 1.18 billion U.S. dollars, for the 33.7 million customers affected by a major data breach discovered last month. The plan, which includes vouchers redeemable only on Coupang's platforms, comes amid widespread criticism and an ongoing police investigation into one of the country's largest cybersecurity incidents.

The breach, which occurred on June 24 but went undetected until mid-November, exposed personal details such as names, email addresses, physical addresses, and order histories for nearly two-thirds of South Korea's population. No payment or login information was compromised, according to the company. Coupang, a U.S.-based firm with operations centered in South Korea, employs about 95,000 people and reported third-quarter revenue of 12.8 trillion won.

Authorities have identified a 43-year-old Chinese national, a former IT employee who worked at Coupang from November 2022 until sometime in 2024, as the primary suspect. Investigators say the individual exploited internal server access using a digital coupon key, downloading data from approximately 3,000...