On December 4, 2019, the Korean National Assembly’s Science, ICT, Broadcasting, and Communications Committee passed the revised bill of the “Act on Promotion of Information and Communications Network Utilization and Information Protection, etc. (hereinafter “Network Act”).
Now, the so-called Three Major Data Laws1 have all passed the relevant standing committees2 within the Korean parliament, and await the final steps in the process – the approval by the National Assembly’s Legislation and Judiciary Committee, followed by the passage of the bills by the National Assembly in the plenary session. The earliest we expect such approval to occur is by the end of this year. Even if this occurs, the Three Major Data Laws will take effect in 2020, allowing companies to use pseudonymized information.
The Three Major Data Laws were proposed over one year ago, on November 15, 2018. The revised set of bills aims to strike a balance between the use and protection of personal information, and promote data-based industries of the future.
1. Background and Purpose of the Revisions
2. Summary of Revised Legislations
A. Overview of the Proposed Changes to PIPA
B. Overview of the Proposed Changes to the Network Act
C. Overview of the Proposed Changes to the Credit Act
3. Significance & Potential Implications
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