Google is looking at ₩69.2 billion (about $50 million) and Meta ₩30.8 billion (about $22 million) in fines issued by the country's Personal Information Protection Commission due to privacy law violations.
As might be expected, the scale and scope of the latest Coinrail cyber heist has increased the call for new cryptocurrency regulations for both exchanges and trading, and could go a long way in maintaining investor faith in the modern financial system.
A major cyber attack on South Korea is usually not a stop-the-presses global news item; it's fairly routine for North Korea and China to make attempts. But what's interesting are the organizational failures that this cyber attack highlights.
South Korea is placing public health concerns over patient privacy in the growing COVID-19 outbreak by publicly publishing location details about patients’ movements.
In June 2016 the Korean government announced new guidelines on personal data de-identification measures which have contributed to a greater clarity around the use and transfer of personal data for purposes other than those consented to by the data subject. How will they positively impact the big data market?
Facebook, Google and Netflix are facing fines and actions for privacy violations, with Facebook assessed the second-largest amount in the country's history for its treatment of facial recognition templates.
The South Korean government is set to implement mandatory KYC verification for cryptocurrency exchanges in March, but the new requirements may be in violation of existing privacy laws.
South Korea uses mobile phone location data to track places where coronavirus patients had been and send text message warnings to individuals who are located in the exposed areas.