South Korea Credit Information Act
Consent, provision and use of personal credit information – South Korea Credit Information Act

South Korea Credit Information Act 32.1-3: Individual consent for providing personal credit information

What does 32.1-3 require?

Before each provision of personal credit information to another party, providers and users obtain the subject's individual prior consent in writing, by electronic document with a real-name electronic signature, by entering a personal password over a secure channel, by recorded phone consent followed by notice, or by other Decree methods (except to keep information accurate within an existing consent); those receiving information from credit rating companies or credit bureaus obtain consent each time and warn if the inquiry may lower the credit score, and the rating company or bureau verifies that consent was obtained.

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

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