President Lee Jae-myung warned companies handling personal data on September 30 to properly equip themselves with information protection personnel and systems. He announced plans to significantly strengthen accountability measures, including fines, criminal penalties, and civil compensation, in the event of data breaches.
In a post on X (formerly Twitter), President Lee shared an article about a joint declaration by the CEOs of South Korea's three major telecommunications companies—SK Telecom, KT, and LG Uplus—committing to prioritize personal data protection as a core management value.
President Lee stated, “In the AI era, data, including personal information, is a national strategic asset and a core element of human rights. Neglecting personal data protection to save costs, and then trying to cover up breaches, is a thing of the past.”
He added, “If a breach occurs, we will impose fines that exceed the costs saved, making them difficult to bear. We will ensure strong criminal penalties and facilitate civil compensation for victims through class action lawsuits.”
* This article has been translated by AI.
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