[KAPP Column] Personal Information, Crisis Response

'Personal information' is a living entity. It is also an object of protection and an object of use. It can be an object of collection but also transferred to third parties. It may have value for users when it is valuable, but it can also become harmful if it is not properly disposed of. Some people try to steal it through hacking, or leak it for profit.

Companies basically use personal information to develop new products and services, upgrade existing products and services to create added value, but they should pay attention to the fact that not understanding these characteristics of personal information properly can bring a major crisis to the company.

First, crisis response is a ‘time’ battle. After the 2014 card company personal information leakage incident, the National Assembly stipulated that unless there is a legitimate reason, a fine of no more than 30 million won would be imposed if notification and reporting were delayed for 24 hours after knowing the fact of loss, theft or leakage of personal information (Article 27(3) of the ‘Act on Promotion of Information and Communications Network Utilization and Information Protection’), this regulation was directly transferred to the revised ‘Personal Information Protection Act’ (Article 39(4) of the same law).

A partner attorney at Law firm Veat, Songdo Young, said, 'Crisis finds you without a sound. Thorough preparation is the best way to minimize damage for both information subjects and companies.'

For those who are curious about the detailed content, please refer to the original column text published in Prime News by clicking on the link: this link.

The personal information protection team of Law firm Veat, led by Songdo Young, Partner Attorney, a secretariat director of the Korea Association of Personal Data Professionals (KAPP), possesses various practical experiences related to personal information protection, including personal information protection education and personal information crisis response simulation, and strives to quickly identify and respond to problems and accurately build response systems.

Thank you.