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New guidelines clarify South Korean privacy law's application to foreign companies

( April 4, 2024, 05:02 GMT | Official Statement) -- MLex Summary: In an effort to help foreign companies comply with South Korea's recently amended privacy law, the Personal Information Protection Commission has issued the "Guidelines for the Application of the Personal Information Protection Act to Overseas Businesses." The guidelines clarify that overseas businesses are subject to the law if they offer services to South Korean users, handle personal data that impacts South Korean individuals or maintain a physical presence in the country. They also indicate that foreign companies must adhere to the same requirements as local businesses, including notifying authorities and affected individuals in the event of a data breach and providing notice when transferring personal information outside of South Korea. Moreover, they advise foreign companies with South Korean subsidiaries to designate their local entities as domestic representatives.The PIPC's statement and the guidelines, in Korean, are attached....

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