South Korea: PIPC Launches New System for Secure Data Transfers, Similar to EU Standards

South Korea's Personal Information Protection Commission (PIPC) introduced a new system to ensure personal data can be transferred securely across borders, which was announced on 1 November 2024. This “equivalence recognition system” is designed to be similar to the EU's "adequacy decision," which allows data to flow freely between regions that meet similar privacy standards.

The PIPC explained that the new system will assess the data protection levels of countries South Korea exchanges data with, ensuring they meet standards under South Korea's Personal Information Protection Act (PIPA). South Korea already received an “adequate” rating from the EU, allowing for data transfers from the EU to South Korea, but until now had no similar system in place for South Korean data going to the EU. By establishing this system, South Korea aims to strengthen its data-sharing relationship with the EU, meeting the growing need for secure cross-border information transfers.

For more information, the press release is officially available in Korean - here