Cha & Kwon Law Offices provided legal advice on the scope of safeguards required under Korean regulations concerning personal information, credit information, and electronic financial transactions in connection with a matter involving additional security measures for personal information and personal credit information during the integration of financial services.

The key issues included whether there is a legal obligation to additionally encrypt personal information when the transmission channel is already encrypted, whether separate protection requirements apply when unique identification information or personal credit information is involved, and whether regulations governing the cross-border transfer of personal information would also apply when the system is connected to an overseas system.

Cha & Kwon Law Offices reviewed the Personal Information Protection Act, laws and regulations concerning credit information, and electronic financial regulations, along with relevant judicial precedents and regulatory decisions. Based on this review, we distinguished between the statutory obligations to protect information transmitted under applicable laws and the enhanced security standards voluntarily adopted by the business for internal purposes.

As a result, we explained that applicable laws require appropriate encryption or equivalent safeguards when transmitting personal information and personal credit information. However, even where certain protective measures have already been implemented, it was difficult to identify a general and explicit legal obligation requiring each individual piece of information to be separately encrypted as an additional measure.

Cha & Kwon Law Offices provides legal advice on matters involving the integration of financial services and personal information processing, including distinguishing statutory security requirements from internal security standards and providing regulatory compliance guidance tailored to the actual data processing structure.