South Korea has enacted stricter penalties for violations of data protection or privacy requirements by telecommunications and online service providers, including potentially steep damages in the wake of a data breach. The amendment (the “Amendment”) to South Korea’s Act on the Promotion of IT Network Use and Information Protection (“Network Act”) became law on March 22, 2016 and will become effective on September 23, 2016. The Network Act regulates and protects the personal information of individuals (“Information Subjects”) that are collected, used and disclosed by telecommunications and online service providers (“Service Providers.”) Overall, the Amendment provides heavier penalties for violating privacy provisions in the Network Act. The increased penalties and stricter privacy standards are consistent with recent amendments in other Korean privacy laws, such as the Personal Information Protection Act and the Utilization and Protection of Credit Information Act.
22 April 2016