Core Viewpoint - Coupang is providing over $1 billion in compensation to customers affected by South Korea's largest data breach, impacting 33.7 million individuals [1][2]. Group 1: Compensation Details - Coupang will offer vouchers worth up to 50,000 won ($35) to each affected customer, including 5,000 won for all products, 5,000 won for food delivery, 20,000 won for travel products, and 20,000 won for luxury beauty shopping [2]. Group 2: Impact and Response - The breach has led to a government investigation and has disrupted the lives of millions, with nearly two-thirds of those affected [3]. - The company's founder, Bom Kim, did not attend a parliamentary hearing regarding the breach, nor did the former head of Korean operations, Park Dae-jun [3]. Group 3: Investigation Findings - Coupang identified a former employee who allegedly accessed personal data from 33 million accounts, retaining user data from approximately 3,000 of those accounts [4].

Core Viewpoint - Coupang has announced a compensation plan of up to 1.7 trillion KRW (approximately 1.17 billion USD) due to a data breach affecting 33.7 million customers, leading to a downgrade in net profit forecasts for 2025-2027 by 2%-18% and a target price reduction from 35 USD to 28 USD, while maintaining a buy rating [1][3] Group 1: Data Breach and Compensation - The data breach incident has impacted nearly two-thirds of South Korea's population, with leaked information including names, phone numbers, email addresses, and delivery details [1] - Coupang's CEO Park Dae-jun has resigned due to the data breach, and Harold Rogers, the CEO of the U.S. parent company, will serve as the interim CEO [1] - The compensation plan will provide 50,000 KRW to each affected customer, totaling up to 1.7 trillion KRW, which represents 3% of the company's market value and 2% of its enterprise value (EV), or 48% of the expected EBITDA for FY2026 [1] Group 2: Business Performance and User Metrics - As of December 28, 2025, Coupang's GMV has grown by 23% year-on-year, which is consistent with the growth rates of 20% observed in October and November 2025, but lower than Naver's 32% growth during the same period [2] - The average daily active users (DAU) showed a weekly increase of 7% from November 30 to December 6, 2025, but experienced declines in subsequent weeks [2] - For Q4 2025, excluding compensation-related expenses, Coupang is projected to achieve revenues of 9.2 billion USD, a 15% year-on-year increase, with adjusted EBITDA of 482 million USD, reflecting a 14% growth [2] Group 3: Target Price Adjustment - Citi has adjusted its target price for Coupang from 35 USD to 28 USD to reflect more conservative assumptions regarding non-operating items and higher effective tax rates for FY2026-2027 [3] - Despite the stock price having retraced by 14% since November 29, 2025, following the announcement of the affected customer count, the decline exceeds the potential dilution from fines and compensation plans [3] - The company is expected to maintain its strong leadership position in the South Korean e-commerce sector [3]

Group 1 - A class action has been filed on behalf of investors who purchased Coupang, Inc. (NYSE: CPNG) securities between April 6, 2025, and December 16, 2025 [1] - Coupang is described as one of the fastest-growing technology and commerce companies globally, offering services in retail, restaurant delivery, video streaming, and fintech under various brands [1] - Allegations include that Coupang failed to disclose a material cybersecurity event, which allowed a former employee to access sensitive customer information for nearly six months without detection [2] Group 2 - The complaint states that Coupang had inadequate cybersecurity protocols, leading to a heightened risk of regulatory and legal scrutiny [2] - It is alleged that when Coupang became aware of the data breach, it did not report it in compliance with applicable reporting rules to the U.S. Securities and Exchange Commission [2] - Following the revelation of the breach, Coupang's stock price fell, negatively impacting investors [2]

Core Viewpoint - A securities class action lawsuit has been filed against Coupang, Inc. due to a significant data breach and alleged delays in disclosure, leading to a substantial decline in the company's stock price [1][2]. Group 1: Lawsuit Details - The lawsuit seeks to represent investors who acquired Coupang securities between August 6, 2025, and December 16, 2025 [1]. - The lead plaintiff deadline for the lawsuit is set for February 17, 2026 [4]. - The lawsuit questions whether Coupang misled investors regarding the adequacy of its cybersecurity protocols and the timeliness of its disclosures related to cybersecurity incidents [4][9]. Group 2: Data Breach Incident - Coupang experienced a data breach affecting approximately 33.7 million customers, which was reported on November 30, 2025 [5]. - The breach was first detected on November 18, 2025, and was attributed to a former employee who retained access credentials after leaving the company in 2024 [6][7]. - Following the breach, Coupang's CEO of its South Korean e-commerce unit resigned, and South Korean police conducted raids on Coupang's offices [6]. Group 3: Financial Impact - Since the breach was reported, Coupang has lost over $8 billion in market capitalization [9]. - The company warned of potential material financial losses due to revenue loss and increased expenses, including regulatory penalties [8].

Core Viewpoint - Coupang, a South Korean e-commerce company, will issue 50,000 KRW vouchers to each of the 34 million users following a significant data breach, with management apologizing and detailing recovery measures [1] Group 1 - Coupang is responding to a major data leak by compensating affected users with vouchers [1] - The company has acknowledged the incident and expressed regret through management statements [1] - Recovery measures have been outlined by the company to address the data breach [1]

Market Overview - U.S. equity markets began the final trading week of 2025 on a subdued note, with major indexes opening lower after a strong year and a recent five-session winning streak [1][2] - The S&P 500 has risen nearly 18% year-to-date, the Dow gained 14.5%, and the Nasdaq Composite increased by 22.2% [1] Market Indexes Performance - On December 29, 2025, the Dow Jones Industrial Average fell 74.3 points (0.15%) to 48,636.63, the S&P 500 dropped 26.3 points (0.38%) to 6,903.6, and the Nasdaq Composite decreased by 178.4 points (0.76%) to 23,414.679 [2] - This decline followed a Friday session where all three indexes closed slightly lower, ending a five-day winning streak, but still posted weekly gains of over 1% [2] Market Sentiment - Current market sentiment reflects profit-taking and repositioning as institutional investors finalize portfolios for year-end [3] - The CBOE Volatility Index (VIX) increased by 1% to 13.60, indicating a slight uptick in market apprehension [3] Upcoming Economic Events - The Federal Reserve's December meeting minutes will be released on December 30, 2025, providing insights into policy decisions and potential rate cuts [4] - Futures traders are currently pricing in two 0.25% rate cuts for 2026, possibly starting as early as March [4] Economic Data Releases - On December 29, U.S. economic data included Pending Home Sales (MoM) for November and the Dallas Fed Manufacturing Business Index for December [5] - Initial jobless claims data will also be released later in the week, contributing to the broader economic picture [5] Company News and Stock Movements - Nvidia (NVDA) shares fell about 2% in early trading despite a 1% rise after licensing AI chip technology from startup Groq, highlighting volatility in the AI sector [6] - Target Corporation (TGT) shares rose by 3.1% after news of hedge fund Toms Capital Investment Management building a significant stake [7] - Coupang, Inc. (CPNG) shares jumped 6.5% after resolving a recent cyber issue with minimal impact [7] - American Airlines Group Inc. (AAL) shares fell 1.5% due to winter storm risks affecting operations [8] - DigitalBridge Group Inc. (DBRG) shares surged 10% after SoftBank acquired the firm for $4 billion, indicating strong interest in digital infrastructure [9] - Tesla (TSLA) stock was down almost 2.5%, while Apple (AAPL) shares saw a slight increase [9] Commodity Market Activity - Gold and silver prices retreated from recent highs, while U.S. crude oil benchmark West Texas Intermediate (WTI) surged over 2% to $58 per barrel amid U.S.-Venezuela tensions [10] - The 10-year Treasury yield slipped to 4.12%, and Bitcoin was trading around $87,500, down from an overnight high [10]

Core Viewpoint - A shareholder has filed a securities class action lawsuit against Coupang, Inc. for alleged misrepresentations regarding the company's cybersecurity protocols during the period from August 6, 2025, to December 16, 2025 [1][2]. Group 1 - The lawsuit is on behalf of investors who purchased or acquired Coupang securities within the specified timeframe [1]. - Investors interested in joining the class action or discussing their legal rights can contact the Investor Relations Manager [2]. - The deadline to file papers to serve as lead plaintiff is February 17, 2026, and participation does not require serving as lead plaintiff [3]. Group 2 - Bernstein Liebhard LLP has a history of recovering over $3.5 billion for clients and has represented large public and private pension funds [4]. - The firm has been recognized multiple times for its success in litigating class actions, being named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for sixteen consecutive years [4].

Core Insights - Coupang is set to compensate customers affected by a significant data breach, offering vouchers to its 33.7 million customers whose personal information was compromised [2][3] - The total compensation plan amounts to 1.685 trillion won, approximately $1.1 billion, reflecting the company's acknowledgment of responsibility for the incident [3] Compensation Details - Each affected customer will receive vouchers totaling up to 55,000 won ($38), which includes 5,000 won for general products, 5,000 won for food delivery, 20,000 won for travel products, and 20,000 won for the beauty platform R.LUX [3] - The company expressed a commitment to customer-centric principles and aims to rebuild trust following the breach [3] Data Breach Overview - The data breach, identified on November 18, is noted as the largest in South Korea, affecting customers' names, email addresses, phone numbers, shipping addresses, and some order histories, but not login or payment information [4] - An investigation revealed that a former employee may have obtained the data, which was retained from 3,000 accounts but not publicly disclosed [5][6] Legal Implications - A class action lawsuit has been filed against Coupang by a group of investors, alleging violations of securities laws related to the breach, including misleading statements about data security practices and failure to disclose the breach promptly [7]

Group 1: Coupang Data Breach - Coupang, South Korea's largest e-commerce platform, announced compensation exceeding $1 billion for victims of its massive data breach, the largest in the country's history [5] - Each of the 33.7 million affected customers will receive vouchers worth up to 50,000 won ($35), distributed in phases starting January 15, 2026 [6] - Coupang's CEO, Park Dae-jun, stepped down after taking responsibility for the breach, while interim CEO Harold Rogers called it a "pivotal moment" and pledged a customer-centric shift to rebuild trust [6][7] Group 2: LandSpace and Space Industry - China's private rocket company LandSpace is preparing to challenge Elon Musk's SpaceX by advancing its reusable rocket technology and plans to go public to fund future projects [7] - Despite a failed test of its Zhuque-3 rocket, LandSpace aims to compete with SpaceX, which could boost China's space industry historically dominated by state-owned companies [8] - LandSpace's chief designer highlighted the financial support that SpaceX receives, which allows for riskier testing, indicating that similar support is needed for Chinese private companies to thrive in commercial space flight [10]

Market Overview - U.S. stock futures showed mixed performance with Dow Jones up 0.03%, S&P 500 down 0.22%, Nasdaq 100 down 0.42%, and Russell 2000 up 0.04% [2] - The 10-year Treasury bond yielded 4.11%, while the two-year bond was at 3.47% [2] - An 82.8% likelihood is projected for the Federal Reserve to keep interest rates unchanged in January [2] Company-Specific Insights - **Target Corp. (NYSE:TGT)**: Shares increased by 0.11% following a report of a significant investment from activist investor Toms Capital Investment Management [7] - **Sable Offshore Corp. (NYSE:SOC)**: Shares fell by 2.34% due to an emergency lawsuit from environmental groups against the restart of the Las Flores pipeline [7] - **Bolt Projects Holdings Inc. (NASDAQ:BSLK)**: Shares surged by 25.19% after announcing expected preliminary results for 2025, projecting a 200% annual revenue increase to $4.5 million [7] - **Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM)**: Shares decreased by 0.54% following concerns about production due to a recent earthquake near Taiwan [6][8] - **Coupang Inc. (NYSE:CPNG)**: Shares rose by 2.68% after announcing a settlement involving over $1 billion in vouchers for 33.7 million affected customers due to a data breach [16] Economic Data and Trends - Upcoming economic data includes pending home sales on Monday, S&P Case-Shiller home price index on Tuesday, and initial jobless claims on Wednesday [17] - Analysts highlight that the U.S. economy is robust but complicated by persistent inflation and geopolitical influences [12][13] - Market dynamics are expected to shift towards "geo-economics," emphasizing the impact of geopolitics and national security on economic conditions [13][14]