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

South Korea Credit Information Act 17: Outsourcing credit information processing

What does 17 require?

Outsourcing follows PIPA Article 26(1) to (3); outsourcers designated by Decree notify the FSC of the scope of information provided; identifying information given to processors is encrypted or otherwise protected; processors are trained and the contract includes safe-processing terms; processors use or provide the data only as PIPA Article 26(5) allows; and processors may not sub-outsource without FSC recognition that protection is not impaired. The Act's security, retention, conduct, confidentiality and liability provisions apply to processors.

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

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