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Comment: Why South Korea's privacy-regime overhaul could be a boon for data-using businesses

By Jenny Lee and Wooyoung Lee ( April 25, 2022, 00:50 GMT | Comment) -- Businesses in South Korea have been vocal in their opposition to moves to further update the country’s privacy law, warning that the proposed revamp could see a privacy misstep resulting in massive fines — up to a whopping 3 percent of annual global turnover. But in a recent interview with MLex, the country’s top privacy official, Yoon Jong-in, said there was no cause for panic — if anything, he said, the proposed rules could promote companies’ active use of data.It comes as no surprise that South Korea’s relatively young data-privacy agency would have plenty of ambitious projects on its anvil. Proliferating digital services, along with the need to safeguard users’ privacy from AI and emerging technologies are all areas of interest for the Personal Information Protection Commission, or PIPC, which was established in 2020....

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