Seoul: E-commerce giant Coupang Inc. announced a compensation plan worth more than 1.68 trillion won (US$1.17 billion) Monday following a massive personal data breach. The compensation plan comes a day after Coupang founder Kim Bom-suk issued his first public apology since the incident, which affected over 33 million people, nearly two-thirds of South Korea's population.

According to Yonhap News Agency, under the plan, the U.S.-listed company will pay 50,000 won per person to 33.7 million customers. This includes paid Coupang Wow members, regular users, and former customers who have closed their accounts, the company said in a press release.

Compensation payments will be made gradually starting January 15, the company added. This initiative marks one of the largest compensation efforts in response to a data breach in South Korea. The plan aims to address concerns and restore trust among affected users.