Coupang, the South Korean e-commerce giant that acquired Farfetch in 2024, announced a compensation package worth 1.69 trillion won (around $1 billion) for 33.7 million affected users following a major data breach. The breach sparked backlash from both users and lawmakers, prompting the settlement.
Critics have raised concerns over Coupang’s choice to provide compensation exclusively as vouchers, which can only be used on its own platforms and services. The company has not commented further on the criticism.
The South Korean parliament plans to hold two days of hearings starting Tuesday to review the incident and the company’s response, as public scrutiny over data protection and corporate responsibility intensifies.
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