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

South Korea Credit Information Act 32.8-11: Business transfers, recipient checks and proof of consent

What does 32.8-11 require?

Designated providers passing personal credit information in a business transfer, split or merger obtain FSC approval for its scope and recipients keep it separate from current customers' data; every provider verifies the recipient's identity and purpose as the FSC prescribes; and a provider bears the burden of proving it obtained individual prior consent if disputed.

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

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