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South Korean panel finds EU privacy rules match domestic standards

( November 19, 2024, 08:26 GMT | Official Statement) -- MLex Summary: South Korea's privacy experts have submitted an assessment to the Personal Information Protection Commission finding that the EU's data-protection framework is substantially equivalent to protections under South Korean law. The evaluation was made by a special 12-member committee of experts from academia, law, civil society and business sectors, who have been reviewing EU privacy regulations since February. Once the assessment receives final approval through government consultations and the PIPC's plenary session, companies will be able to freely transfer data between South Korea and Europe, expected to significantly boost digital trade between the two regions.The statement, in Korean, is attached....

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