South Korean e-commerce company Coupang Inc yesterday announced a compensation deal worth 1.69 trillion won (US$1.18 billion) to the holders of 33.7 million accounts for a massive data leak that triggered a backlash from users and lawmakers.
Customers would get company vouchers worth 50,000 won each, Coupang said.
The plan comes a day after Coupang founder Kim Beom-seok issued his first public apology for last month’s data breach and pledged to expedite compensation measures. However, Kim has declined to attend parliamentary hearings scheduled for today and tomorrow, citing prior commitments.
Photo: Bloomberg
Criticism has mounted over Coupang’s decision to provide compensation in the form of vouchers that could only be used on its own services and platforms.
Ruling Democratic Party lawmaker and National Assembly Science, ICT, Broadcasting and Communication Committee chair Choi Min-hee wrote on Facebook that Coupang was “bundling coupons for services no one uses,” criticizing it for offering vouchers tied to its less popular services.
Coupang appeared to be trying to turn the crisis into a business opportunity, she added.
Consumer advocacy group Korea National Council of Consumer Organizations said Coupang’s plan made a mockery of consumers and downplayed the severity of the data breach, describing it as a marketing tool designed to encourage additional purchases rather than as a sign of restitution.
Asked about public criticism of its compensation plan, Coupang said it had no further comment.
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