[Consulting] Providing personal information consulting services to Company A operating a lodging business application.

Law firm Veat provided advisory services regarding the obligation of guaranteeing personal injury compensation liability for a service provision application operated by A company, which provides services to lodging businesses.

​A company’s application provides operational management services to lodging businesses, including ▲ product sales site and lodging business product synchronization services ▲ providing product brokerage services, during which “The Act on Promotion of Information and Communications Networks and Protection of Information” (Information Network Act) stipulates personal injury compensation liability guarantee obligation. The company sought to examine whether it was assuming this obligation.

Following the amendment of the Information Network Act, 1) the revenue of the previous fiscal year exceeded 50 million won, 2) the number of users who store and manage personal information averaged more than 1,000 per day, and 3) information and communication service providers must join insurance or establish a reserve fund in order to guarantee personal injury compensation liability through information and communication methods.

Accordingly, Law firm Veat conducted a comprehensive review of whether A company was assuming an obligation under Article 18 of 2 of the Information Network Act regarding its obligation to A company’s reservation users.

​Based on its experience providing legal advisory services to numerous IT startup companies, Law firm Veat provides professional advice by understanding the overall business. If you need legal advice regarding application services, such as compliance with current regulations, please contact Law firm Veat via contact.

​Thank you.

Law firm Veat