Choi Jang-hyeok, Vice Chairman of the Personal Information Protection Commission, "Creating a Personal Information Legal System Applicable on the International Stage"

[Financial News] "Europe already has a personal information protection law called the General Data Protection Regulation (GDPR), and the United States, China, and others are also operating related laws. In a situation where data is frequently transferred abroad, Korea also needs to establish a legal system that can be applied to international standards." Choi Jang-hyeok, Vice Chairman of the Personal Information Protection Commission, stated this during a lecture at the 'Financial News Gangnam Forum' held at The Plaza Hotel in Jung-gu, Seoul on the 17th. The Gangnam Forum is a networking forum hosted by Financial News for internal and external communication executives of leading domestic companies.
■"Need to Establish a System Applicable on the International Stage"
Vice Chairman Choi, in a lecture on 'Major Policy Tasks for Promoting AI Innovation Based on Trust,' said, "As individuals and companies increasingly use artificial intelligence (AI) such as ChatGPT, the overseas transfer of personal information will occur more frequently in the future," and emphasized, "Although China has the Data 3 Laws, they are not actively utilized, and Korea should create standards and regulations that can request the international protection of its citizens' personal information."
Vice Chairman Choi also emphasized the role of the '2024 International Personal Data Protection Authorities Conference (GPA)' scheduled to be held in Seoul this September. Concerns are arising that if personal information regulations in each country become barriers in an era where big tech companies operate across boundaries, it could lead to trade issues.
He said, "If global companies like OpenAI are providing services under the same standards, but the regulatory systems or laws of each country differ, it could ultimately have a significant impact on AI development," adding, "Currently, countries around the world are trying to align with such global regulations, and the Personal Information Protection Commission can send a message that it plays a central role in global supervisory organizations through the GPA in September."
■"Need to Consider Solutions for Double Regulation of Personal Information"
Vice Chairman Choi also pointed out the need to improve the limitations of the Personal Information Protection Act, which deals with pseudonymous information. Pseudonymous information is data where personal information is not revealed, but under current law, it can only be used for statistical purposes, research purposes, and public interest purposes.
He said, "Although there has been a significant trend of AI and big data, pseudonymous information is currently limited to three purposes under the law," and pointed out, "Since the Personal Information Act itself has such limitations, it is time to consider how to develop in the future."
After Vice Chairman Choi's lecture, questions from related industries such as insurance companies and distribution companies poured in. An insurance company official said, "In the case of financial companies, they are subject to double regulation under the Personal Information Protection Act under the jurisdiction of the Financial Services Commission and the Credit Information Act under the jurisdiction of the Personal Information Protection Commission," adding, "There are difficulties such as receiving fines twice if both laws are violated, and even if an exception is applied under one law, it is not applied under the other."
Vice Chairman Choi responded, "The reason for the establishment of the Personal Information Protection Commission is to prevent such double regulation and to resolve the uncertainty of companies, but there is still much to consider," adding, "Currently, there is a discussion on financial supervision reform in the government, so time is needed."


yjjoe@fnnews.com Yoonju Cho Reporter