South Korean e-commerce powerhouse Coupang has announced an unprecedented compensation package worth $1.17 billion, demonstrating remarkable accountability following a significant customer data breach that impacted 34 million users nationwide.

In a detailed statement released Monday, the company revealed its comprehensive plan to provide each affected customer with 50,000 won in purchase vouchers across various Coupang services. Notably, this compensation extends even to former customers who previously closed their accounts in response to the November 18th data incident, signaling the company's commitment to rebuilding trust.

Interim CEO Harold Rogers publicly addressed the breach, describing the compensation as a 'responsible measure for our customers' and pledging to 'fulfill our responsibilities to the end.' His statement was accompanied by a heartfelt apology, underscoring the company's transparent approach to resolving the cybersecurity incident.

Company founder Kim Bom also issued a deeply personal statement, acknowledging the company's initial communication failures. He candidly admitted that his delayed public response was a misjudgment, expressing that he should have communicated his 'deepest regrets and sincere apologies' immediately upon learning of the breach.

The data breach, which precipitated the resignation of previous CEO Park Dae-jun, prompted extensive investigation and collaboration with government authorities. Kim confirmed that all leaked customer information had been recovered, and the associated storage devices seized from the suspected perpetrator.

Importantly, Kim emphasized that the compromised customer data was extremely limited, involving only 3,000 records, and crucially, was neither distributed nor sold externally. This detail provides significant reassurance to the millions of customers potentially affected by the incident.

By offering this comprehensive compensation package, Coupang has demonstrated a proactive and customer-centric approach to managing a challenging cybersecurity breach, potentially setting a new standard for corporate responsibility in the digital age.