Korea raises data breach fines to 10% of revenue

Companies behind major negligent data leaks can now face fines of up to 10 percent of annual revenue under revised privacy rules.

Personal Information Protection Commission Chairperson Song Kyung-hee speaks during a plenary session of the watchdog at the government complex in Jongno District, central Seoul, on Sept. 9. YONHAP Korea's privacy regulator is sharply raising the cost of data breaches, aiming to push companies to treat data protection as a preventive investment rather than a routine cost of doing business.