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Major revision to South Korean privacy law makes headway in parliament

( December 6, 2022, 05:41 GMT | Official Statement) -- MLex Summary: A bill to significantly update South Korea's privacy law is making its way through the country's parliament, with yesterday's approval by the National Policy Committee. The bill, which is the result of the merging of 21 separate bills and some minor changes by a subcommittee, will establish new rights for individuals, including the right to request transmission of their personal information to data controllers and the right to refuse, raise an objection to or request an explanation on automated decision-making; diversify methods for overseas data transfers; and empower the country’s privacy regulator to impose fines as high as 3 percent of the “total annual turnover” for privacy violations, albeit this figure would have to be computed "excluding sales that are not connected to violations." The bill will have to be approved by the Legislation and Judiciary Committee, before it can be brought up for a vote in the plenary session.The draft revision, published by the National Policy Committee, is attached....

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