South Korea Increases Data Breach Fines, Lowers Liability Threshold
James Lim reports:
Recent data breach amendments (Bill No. 10479) to South Korea’s framework data protection law increase available fines; lower the liability threshold that regulators must show to levy fines; allow compensation of individual plaintiffs without a showing of damages; and require notification of affected individuals within 24 hours of discovering a breach, a Korea Communications Commission (KCC) official told Bloomberg BNA May 12.
Read more on Bloomberg BNA.