PIPC to Levy 10% Fines for Data Breaches
Strengthening Personal Data Protection: New Measures Introduced The Personal Information Protection Commission (PIPC) has unveiled a series of new measures aimed at enhancing the protection of personal data in South Korea. These initiatives include introducing a punitive surcharge special provision that could result in fines of up to 10% of a company's total sales for repeated or major violations of the Personal Information Protection Act. During a presidential work report held at the Government Complex Sejong Convention Center on the 12th, the commission announced its plan to strengthen sanctions, including this new measure. The goal is to shift the current personal information protection system from one that focuses primarily on post-sanction collection regulations to a more proactive approach. Punitive Surcharge Special Provision For repeated or major violations, the PIPC plans to establish a punitive surcharge special provision to ensure strong deterrence. If specific requ...