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Photo = SK Telecom |
[Alpha Biz= Kim Jisun] Ko Hak-soo, Chairperson of South Korea’s Personal Information Protection Commission (PIPC), stated on May 8 that the fine imposed on SK Telecom for its recent data breach will be "significantly larger" than the penalty levied against LG Uplus two years ago.
Speaking to reporters following a keynote speech at a forum hosted by the American Chamber of Commerce in Korea, Ko explained, “The relevant law has been revised, and the penalty provisions are now fundamentally different. Even based on the facts currently revealed, the situation is considerably more serious than the LG Uplus case.”
In July 2023, the PIPC imposed a KRW 6.8 billion (approximately $5 million) fine on LG Uplus for leaking the personal data of around 300,000 customers. At the time, the maximum fine for violations was capped at 3% of the revenue related to the specific wrongdoing. However, a legislative amendment in September 2023 expanded the cap to 3% of a company’s total revenue—substantially raising potential liabilities for violators.
Ko’s remarks indicate that SK Telecom may face a record-high penalty, given the broader legal framework and the severity of the breach.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
