Transfer of Personal Information
Transfer of Personal Information
  • Observer
  • 승인 2014.03.07 16:43
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Starting in March of 2014, foreign financial companies will be able to transfer Korean customer’s personal information. Korea disapproves of the transfer of information because of the danger of information leakage but, this treaty to unlock this ban was contracted in the FTA with USA and EU. Korea will get grace period of 2 years to implement this treaty and the period will end March 14th, 2014. Therefore, companies can transfer their clients’ information to foreign information centers. This transfer of information makes it hard to protect the nations’ personal information. Also, foreign companies can outsource the securing of client information to other firms. People say that information leakage happens by outsourcing to outside domestic firms, furthermore, if information moves to foreign countries, it will be hard to prevent data leakage from happening in the future.

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