South Korea Credit Information Act
Collection, processing, outsourcing and prohibited practices – South Korea Credit Information Act

South Korea Credit Information Act 15: Principles for collecting and processing credit information

What does 15 require?

Credit information is collected and processed only within the scope of business set by the Act or the articles of incorporation, for a clear purpose, and by reasonable and fair means to the minimum extent needed (applying PIPA Article 3(1) and (2)); personal credit information is collected with the data subject's consent, except in the PIPA Article 15(1)(2) to (7) cases, information disclosed under law or in publications, broadcasts or public-body websites, information the subject made public on social networks within the scope their consent can objectively be assumed, and similar Decree cases.

Maintained by Gerard BlokdykVerified against the published standard Control text last updated

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