Coupang, a leading South Korean online retailer, has announced a compensation plan worth 1.69 trillion won ($1.17 billion) to more than 34 million users affected by a massive data breach that was revealed last month.
In an official statement on Monday, Coupang announced that it will provide 50,000 won worth of shopping vouchers to affected customers.
The vouchers can be used for various services on the platform.
The move is aimed at restoring consumer trust and reducing the negative impact of the cybersecurity incident.
Meanwhile, customers who have closed Coupang accounts following the data breach issue are also eligible to receive the vouchers.
The company also explained that users can check their eligibility status starting January 15 next year.
Interim Chief Executive Officer (CEO) of Coupang Corp, Harold Rogers, described the move as the company's responsibility to meet customer demands.
The data breach incident that occurred on November 18 led to the resignation of former CEO Park Dae Jun earlier this month.
Coupang founder Kim Bom admitted in a statement that the company failed to communicate clearly from the beginning of the incident.
