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News
South Korea slashes Tongyang Life data penalty after regulatory rethink
2+ day, 6+ hour ago (663+ words) South Korea’s top financial regulator has reduced a proposed 140 billion won penalty against Tongyang Life Insurance to 7 billion won, following a legal reinterpretation of how the insurer shared customer data with its own sales arm. The decision sits within a…...
S. Korea to introduce strengthened penalties for large-scale data leaks
2+ day, 15+ hour ago (209+ words) South 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, Yonhap reports. The move comes as Seoul has sought to strengthen protection of personal information…...
Korea raises data breach fines to 10% of revenue
2+ day, 19+ hour ago (260+ words) Companies behind major negligent data leaks can now face fines of up to 10 percent of annual revenue under revised privacy rules. Korea's privacy regulator is sharply raising the cost of data breaches, aiming to push companies to treat data protection…...
Korea to introduce strengthened penalties for large-scale data leaks
2+ day, 20+ hour ago (295+ words) Companies responsible for leaks affecting more than 10 million people could face fines of up to 10 percent of sales starting Friday. Korea will introduce strengthened penalties this week for companies that suffer personal information leaks affecting more than 10 million people, the…...
Korea Uncovers 500 Billion Won Abuse of Tariff Quota Scheme
3+ day, 14+ hour ago (185+ words) Customs Agency Finds Violations at 10 of 21 Importers in Four-Month Probe Evaded Taxes Total 58.6 Billion Won South Korean customs authorities have uncovered more than 500 billion won ($360 million) in illegal activity involving the country's tariff quota system, a program that temporarily lowers…...
South Korea speeds death-data sharing to block fraud within a day
6+ day, 16+ hour ago (13+ words) CHOSUNBIZ Chosunbiz...
South Korea's Antitrust Fines Top ₩1.35 Trillion in Just Seven Months, Poised to Shatter All-Time Record — BigGo Finance
1+ week, 4+ hour ago (480+ words) South Korea's Fair Trade Commission (FTC) has imposed fines exceeding 1.35 trillion won (approximately $999.2 million) in just the first seven months of this year—four times last year's annual total. Two cartel cases alone, involving sugar and flour price-fixing, accounted for…...
South Korea fines GS Retail $9.2 million over data breach affecting 1.66 million customers
1+ week, 5+ day ago (241+ words) Regulators found the retailer failed to detect months of automated login attacks that exposed personal information from its GS Shop and GS25 platforms. South Korea’s privacy regulator has fined GS Retail 12.836 billion won, about $9.2 million, along with an additional administrative penalty…...
GS Retail fined 12.8 billion won over personal data leak affecting 79,128 people
1+ week, 5+ day ago (366+ words) South Korea's Personal Information Protection Commission said on Aug. 31 it imposed a total of 12.95 billion won in penalties and 10.2 million won in fines on GS Retail and three other operators for violating personal data protection rules, after holding a plenary…...
South Korea's GS Retail faces privacy fine over credential-stuffing attacks | MLex | Specialist news and analysis on legal risk and regulation
1+ week, 5+ day ago (162+ words) South Korea's GS Retail faces privacy fine over credential-stuffing attacks MLex Law360 | The Practice of Law Law360 Authority | Deep News & Analysis Law360 Pulse | The Business of Law South Korea's GS Retail faces privacy fine over credential-stuffing attacks Prepare for tomorrow’s regulatory change, today…...