“PERSONAL DATA PRIVACY COMPLIANCE WHEN DOING BUSINESS IN SOUTH KOREA”
Doing business in South Korea involves navigating strict regulations regarding personal data privacy compliance. South Korea has robust data protection laws, notably the Personal Information Protection Act (PIPA), which governs the collection, use, and other processing of personal information. Companies doing business in South Korea must ensure compliance with these regulations.
However, not all entities are familiar with the full extent of their responsibilities as the personal information controller under PIPA which includes, among others, establishment, implementation, and periodical reviewing of an internal management plan for the protection of personal information.
Non-compliance with the legal requirements for the internal management plan, or other measures to ensure the safety of Personal Information, will subject the personal information controller, the business entity, to administrative fines. But more importantly, in an era of an ever-growing array of data security threats and identity thefts, the best practice commercially feasible for business entities to follow would be strict abidance by all such measures of protection in good faith. History and record of compliance to the privacy protection requirements are considered in favor of such business entities by Personal Information Protection Commission in the occurrence of breach, loss, damage, etc. to the personal information processed by the business entities and by the courts in legal proceedings against the business entities arising from breach or loss of such information, especially those caused by hacking or other malicious activities.
Therefore, businesses expanding or operating in Korea need to prioritize robust data protection practices and regularly update their policies to align with the evolving regulatory landscape, fostering trust and transparency with clients or users regarding their personal information handling.