AMCHAM holds seminar on Korea's revised privacy law

By Jung Young-seon, The Korea Herald - The American Chamber of Commerce in Korea held a seminar Thursday in partnership with local law firm Bae, Kim & Lee LLC to discuss the growing importance of personal data protection in corporate strategy and risk management.

“Korea’s 2026 PIPA: What Global Companies Need to Know” examined key changes in the Personal Information Protection Act, which took effect on Sept. 11, as well as recent regulatory enforcement trends. The event was held at Bae, Kim & Lee’s Seoul office.

“The growing movement of data across borders and expanding use of artificial intelligence have made the secure management and protection of information increasingly important,” James Kim, chairman and CEO of AMCHAM, said.

“AMCHAM will continue engaging with businesses and policymakers to help create an environment in which global companies can continue investing and growing in Korea.”

“The amendments have increased corporate responsibilities, making personal data protection a key issue in business strategy and risk management beyond regulatory compliance,” Lee Jun-ki, managing partner at BKL, said.

“BKL will provide domestic and international companies with legal advice and practical strategies to navigate the changing regulatory environment.”

The first session featured BKL foreign attorney Lim Seul-ki, who outlined key PIPA revisions, including higher fines of up to 10 percent of total revenue for serious or repeated violations, expanded breach notification requirements, increased responsibilities for CEOs and CPOs, and mandatory ISMS-P certification. She stressed the need for companies to invest in data protection and strengthen internal management systems.

In the second session, BKL foreign attorney Jung Ho-young reviewed major enforcement cases and investigation trends, including a 624.6 billion won ($467 million) fine imposed on a major domestic e-commerce platform and penalties in the telecommunications, retail and financial sectors. He highlighted recurring violations such as inadequate access controls and delayed breach notifications, stressing the need for preventive measures and stronger incident response systems.

AMCHAM plans to continue working with industry experts and policymakers to help its members respond to regulatory changes and foster a business environment that supports global companies' investment and operations in Korea.

Source: https://www.koreaherald.com/article/10920476?ref=naver