PIPC Announces Final Framework for Stronger Data-Breach Penalties and Corporate Responsibility
The Personal Information Protection Commission announced that amended privacy legislation, enforcement regulations and related rules would take effect on September 11. The framework includes penalties of up to 10 percent of total revenue for qualifying serious breaches, reductions linked to preventive security investment, stronger accountability for senior management and privacy officers, and a new notification mechanism for potential data exposure.
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- Privacy Act, Enforcement Decree and Notices Strengthening Breach Prevention and Victim Relief Take Effect September 11Personal Information Protection CommissionKOPress release
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South Korea Strengthens Penalties and Corporate Accountability for Personal Data Breaches
This issue tracks South Korea's legal and regulatory response to repeated large-scale personal data breaches. Reforms led by the Personal Information Protection Commission introduced the possibility of penalties of up to 10 percent of total revenue for certain repeated, intentional or grossly negligent serious privacy violations, while also providing incentives for preventive security investment and strengthening the responsibilities of corporate executives and privacy officers as well as notification and victim-remedy mechanisms.
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