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News
Korea raises data breach fines to 10% of revenue
3+ day, 4+ hour ago (260+ words) Companies behind major negligent data leaks can now face fines of up to 10 percent of annual revenue under revised privacy rules. Korea's privacy regulator is sharply raising the cost of data breaches, aiming to push companies to treat data protection…...
Korea to introduce strengthened penalties for large-scale data leaks
3+ day, 5+ hour ago (295+ words) Companies responsible for leaks affecting more than 10 million people could face fines of up to 10 percent of sales starting Friday. Korea will introduce strengthened penalties this week for companies that suffer personal information leaks affecting more than 10 million people, the…...
South Korea speeds death-data sharing to block fraud within a day
1+ week, 1+ hour ago (13+ words) CHOSUNBIZ Chosunbiz...
Tving data leak spurs coupon plan as Korea weighs penalties, profits at risk
1+ week, 6+ day ago (15+ words) CHOSUNBIZ Chosunbiz...
South Korean finance platform 3Pro TV reports data breach | MLex | Specialist news and analysis on legal risk and regulation
1+ mon, 3+ day ago (160+ words) South Korean finance platform 3Pro TV reports data breach MLex Law360 | The Practice of Law Law360 Authority | Deep News & Analysis Law360 Pulse | The Business of Law South Korean finance platform 3Pro TV reports data breach Prepare for tomorrow’s regulatory change, today MLex identifies risk to…...
Korean Telecoms Lose Breach Immunity: Regulator Voids Subscriber Liability Waivers
1+ mon, 6+ day ago (587+ words) Tech Times...
Korea Antitrust Body Warns of Record 15 Trillion Won Fine in Bond Bid-Rigging Case
1+ mon, 1+ week ago (220+ words) 15 Financial Firms Rigged 76 Trillion Won in Treasury Bond Bids FTC Signals Maximum Fine of 15.24 Trillion Won Fifteen financial firms designated as primary dealers (PDs) for Korean treasury bonds face a fine of up to 15 trillion won from the Fair Trade…...
Coupang Faces 300 Billion Won Tax Notice, Estimates 350 Billion Won Fire Loss
1+ mon, 1+ week ago (297+ words) Disclosed in Q2 SEC Filing Plans to Contest Corporate Tax "Provisions Sufficiently Set Aside" Coupang Inc., the U.S. parent company of Coupang, disclosed on the 4th that Coupang had received a notice of proposed taxation of approximately 300 billion won from the National Tax…...
(2nd LD) Coupang swings to Q2 loss on data breach fines
1+ mon, 1+ week ago (504+ words) (ATTN: UPDATES with details in last 3 paras) SEOUL, Aug. 5 (Yonhap) -- E-commerce giant Coupang Inc. said Wednesday it swung to a net loss in the second quarter from a year earlier due to fines related to a massive data breach. In…...
Coupang records quarterly loss as data breach fines weigh down bottom line
1+ mon, 1+ week ago (285+ words) Coupang swung to a loss despite higher sales in the second quarter, as its bottom-line results were impacted by fines related to the data breach in South Korea. The e-commerce giant reported an attributable net loss of US$570 million for…...