SK Telecom Hacked: Millions to Get $67 Each

A major data breach at South Korea's largest mobile carrier will result in small payouts for nearly all adults in the country. SK Telecom has been ordered to pay 5,000 won (about $67) in compensation to each victim of a 2022 hacking incident. The Seoul Central District Court ruled against the company this week. The case was a collective, or group, lawsuit. It was filed on behalf of 4.8 million customers whose personal data was stolen. The hackers accessed a vast amount of information. This included names, phone numbers, addresses, and even credit scores. In total, the data of over 29 million people was compromised. That is roughly 56% of South Korea's entire population. The court stated that SK Telecom failed in its duty to protect customer information. The judges noted the company's security systems were inadequate. This legal defeat opens the door for more victims to claim the same compensation. SK Telecom has expressed regret over the incident. The company says it has since strengthened its data protection measures. It has not yet decided if it will appeal the court's ruling. For individuals, the compensation amount is small. However, the total cost to SK Telecom could be enormous. If all eligible victims claim the 5,000 won, the company may have to pay over $320 million.