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Coupang (CPNG) promises over $1 billion compensation for data leak victims. (00:24) China’s private rocket company LandSpace prepares to stand against Elon Musk’s SpaceX – report. (01:16) New York to require mental health warning labels on social media platforms. (02:21)
This is an abridged transcript.
South Korea’s largest e-commerce platform, Coupang (CPNG) announced compensation exceeding $1 billion for victims of its massive data breach, the largest in the country’s history.
The retailer said that each of its 33.7 million customers affected by the incident would receive vouchers worth up to 50,000 won ($35), to be distributed in phases starting January 15, 2026. Vouchers break down as 5,000 won for general Coupang products, 5,000 won for Coupang Eats delivery, 20,000 won for Coupang Travel, and 20,000 won for R.LUX luxury beauty.
Coupang’s (CPNG) CEO, Park Dae-jun, stepped down after taking responsibility for a huge data breach.
Its interim CEO Harold Rogers called the breach a “pivotal moment,” pledging a customer-centric shift to rebuild trust.
China’s LandSpace—a private rocket company advancing its reusable rocket technology—plans to go public to fund its future projects, challenging Elon Musk’s SpaceX (SPACE) dominance, Reuters reported.
Though LandSpace’s Zhuque-3 rocket test failed, the company aspires to compete with SpaceX (SPACE) in reusable rockets, giving a boost to China’s space industry, which has long been controlled by risk-averse, state-owned companies.
Beijing-based LandSpace was founded in 2015 and is one of the first startups after China opened its space sector to private investment in 2014.
“(SpaceX) can push products to the edge and even into failure, quickly identifying limits and iterating,” Zhuque-3 chief designer Dai Zheng told state broadcaster CCTV after the rocket’s inaugural flight, the report added.
Dai stated that substantial financial support for SpaceX (SPACE) played a major role in enabling Musk’s company to incur huge losses while testing Starship. “For us, we’re not yet able to do that,” Dai said. “I believe our country has recognized this, allowing capital markets to support companies (in areas) like commercial space flight.”
New York Governor Kathy Hochul on Friday signed into law new rules that will require social media platforms to display mental health warning labels, in a move to address what she called a youth crisis.
“Legislation S4505/A5346, under the chapter amendment, requires social media platforms that offer addictive feeds, auto play or infinite scroll to post warning labels on their platforms,” Hochul said in a statement.
“Keeping New Yorkers safe has been my top priority since taking office, and that includes protecting our kids from the potential harms of social media features that encourage excessive use,” she added.
She noted that several consumer warning labels are already found on different products ranging from cigarettes to food to alcohol.
According to the rules, users should not be able to bypass or click through the mental health warnings.
Popular social media firms include Meta’s (META) Facebook and Instagram, Alphabet’s (GOOGL) YouTube, Snap’s (SNAP) Snapchat, TikTok, Elon Musk’s X, Pinterest (PINS), Microsoft’s (MSFT) LinkedIn, and Reddit (RDDT).
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