Korea raises data breach fines to 10% of revenue
South Korea's privacy regulator will impose fines up to 10% of revenue for data breaches leaking personal data of 10 million or more people.
South Korea's privacy regulator is sharply raising penalties for data breaches, with fines reaching 10% of a company's revenue. The higher fines take effect Friday for companies found to have leaked personal data of 10 million or more people through intent or gross negligence. The regulator aims to push companies to treat data protection as a preventive investment rather than a routine cost of doing business.