Coupang Founder Apology

Benzinga

Coupang founder Kim Bom publicly apologized for a customer data breach, pledged reforms, and said a compensation plan will be announced as South Korean lawmakers consider legal action.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Online retailer, Coupang founder Kim Baum apologized publicly for the first time

00:07over a customer data leak disclosed in November, according to Reuters.

00:11It said the company will announce a compensation plan as soon as possible.

00:16In a statement posted on the company's website, the U.S.-based chairman said he sincerely

00:20apologized and pledged investments and reforms to prevent future breaches.

00:25Kim has faced criticism in South Korea for failing to attend parliamentary hearings

00:29on the incident.

00:31Kim said Coupang restored all leaked information and confirmed that data from 3,000 customers

00:36was saved by a suspect, but not transferred or sold.

00:40South Korean lawmakers are seeking legal action against Coupang's billionaire founder,

00:45arguing the New York-listed retailer generates most of its revenue from sales in South Korea.

00:49For all things money, visit Benzinga.com.

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