Financial Crime World

Here is the article in markdown format:

Data Protection and E-Privacy Laws in South Korea

==============================================

South Korea has implemented various laws to protect individuals’ personal data and ensure e-privacy. Here’s an overview of the key regulations:

Data Protection Law: Personal Information Protection Act (PIPA)

The Personal Information Protection Act (PIPA) is the primary law governing data protection in South Korea. It requires companies to adhere to strict guidelines on collecting, using, and disclosing personal information.

Key Provisions

  • Companies must obtain explicit consent from individuals before collecting their personal information.
  • They must inform individuals about how their personal information will be used and protect it from unauthorized access.
  • The Personal Information Protection Committee (PIPC) can impose administrative fines not exceeding 3% of the total revenue of the relevant personal data manager for non-compliance.

Sanctions for Breach

Serious breaches can result in imprisonment for up to five years or a criminal fine of up to KRW 50 million (approximately EUR 35,000).

Cookies and Direct Marketing Regulations

Companies must obtain explicit consent from individuals before using cookies containing personal information. They must also:

Disclose Privacy Policy

  • Inform individuals about their internet access information files and other devices that automatically collect personal information.
  • Explicit consent is required before sending marketing emails or messages to individual subscribers.

Commercial Information Sending

  • Companies can send commercial information by email without consent to addresses obtained from a prior sale of goods or services within 6 months of the sale.

Additional E-Privacy Laws

South Korea has implemented several additional e-privacy laws, including:

  • Protection of Use of Location Information Act: Regulates the collection and use of location information.
  • Communications Secrecy Protection Act: Protects confidentiality in communications services.
  • Act on Promotion of Cloud Computing and Protection of Users: Safeguards users’ rights when using cloud computing services.

Please note that this summary is not exhaustive, and you should consult a lawyer or expert for more detailed information.