Korea will impose strengthened penalties this week on companies whose personal information leaks affect more than 10 million people. The revised personal information protection law takes effect Friday and raises the maximum penalty to 10 percent of sales from 3 percent. The privacy watchdog said the rule targets intentional misconduct, gross negligence, repeated violations within three years, and failures to follow corrective orders. It also said penalties may be cut by up to 40 percent depending on a company’s investment in protection and other safety measures.
Personal Information Protection Commission Chairperson Song Kyung-hee, center, speaks during a plenary session of the watchdog at the government complex in central Seoul, Wednesday. Yonhap
Korea will introduce strengthened penalties this week for companies that suffer personal information leaks affecting more than 10 million people, the privacy watchdog said Thursday.
The move comes as Seoul has sought to strengthen protection of personal information in the wake of high-profile cases, including e-commerce operator Coupang's data breach that affected more than 37 million users.
Under the revised personal information protection law set to take effect Friday, companies that suffer such large-scale leaks due to intentional misconduct or gross negligence can be punished with a penalty up to 10 percent of their sales, according to the Personal Information Protection Commission.
