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South Korea's draft privacy-law decree released for public consultation

( May 18, 2023, 06:06 GMT | Official Statement) -- MLex Summary: The South Korean privacy regulator is seeking public consultation on a draft decree of the Personal Information Protection Act. The draft contains some of the major changes from the sweeping revisions to the PIPA passed earlier this year. The decree outlines a four-step calculation process for fines based on the severity of the offense, applicable to both data controllers and third-party data processors. It also requires reporting of data breaches resulting from hacking attacks that impact more than 1,000 individuals within 72 hours, unless a valid reason exists for not doing so. Public feedback on the draft decree will be accepted until June 28. The statement and the full text of the draft decree, in Korean, are attached....

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