South Korea PIPA 27: Notify data subjects before transferring personal information in a business transfer or merger

What does 27 require?

Article 27: before transferring personal information in a transfer or merger of business, the controller notifies data subjects of the transfer, the recipient's name and contact details, and how to object; the recipient notifies data subjects without delay unless already notified, and may use the information only for the original purpose, becoming the controller.