SK Telecom Rejects Arbitration Suggesting W100,000 Compensation Per Customer In response to the massive data breach that occurred last year, SK Telecom has faced severe backlash and mounting pressure from its customers and investors alike. On a day that saw intense focus on the company's handling of the crisis, reports revealed that SK Telecom has rejected a mediation proposal that suggested compensating each of its 23 million affected subscribers a sum of W100,000, or around $70 USD. The proposed arbitration deal that SK Telecom chose to decline offered an initial W100,000 payout to each of the impacted customers, along with reimbursement of any losses stemming from credit card scams and other financial crimes caused by the breach. It also involved a significant overhaul of the company's data security measures to be implemented over a specified time frame. The massive data breach reported by SK Telecom last year exposed the personal information of the company's 23 million subscribers. This sensitive data included names, phone numbers, addresses, and identification numbers. Many consumers were left exposed to risks of identity theft and financial scams as a result of the breach. Customers and consumers' rights groups have condemned SK Telecom's rejection of the proposal, saying it shows a clear disregard for the well-being and security of its users. In their view, the telecom provider is not doing enough to protect and compensate its consumers. These groups have also raised pointed questions regarding whether the proposed overhaul of the company's data security measures is sufficiently robust and whether additional steps need to be taken at both the regulatory level and by the telecommunications company itself. As a result of these concerns raised about its rejection of the arbitration deal, SK Telecom has become the subject of growing criticism and ire from regulators as well as the wider public. Many industry experts anticipate that the company will ultimately face significant financial penalties and stricter regulatory oversight if it continues on this path.