South Korea Credit Information Act
The South Korea Credit Information Use and Protection Act (as amended 2020, effective 2021) regulates the collection, use, and protection of credit information (financial and personal credit data). The 2020 MyData amendments enable individuals to request their financial data be transferred to authorized third-party service providers. Financial Services Commission (FSC) and Financial Supervisory Service (FSS) oversee compliance. Covers credit bureaus, financial institutions, and MyData operators.
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Framework Domains (25)
Automation
| Code | Title |
|---|---|
| CIA-AUTOM-18 | Automated decision making in credit assessment |
Awareness
| Code | Title |
|---|---|
| CIA-EDU-19 | Training of employees and officers |
Chapter I — General Provisions and Licensing
| Code | Title |
|---|---|
| Art.1 | Purpose of the Law |
| Art.2 | Scope |
| Art.4 | Principles for Data Processing |
| Art.5 | Scope of Application |
Chapter III — Collection, Investigation, and Processing
| Code | Title |
|---|---|
| Art.15 | Misuse of Devices |
| Art.16 | Computer-Related Forgery and Fraud |
| Art.17 | Content-Related Offences |
| Art.18 | Duties of Data Processors |
Chapter IV — Distribution, Use, and Management
| Code | Title |
|---|---|
| Art.32 | Data Subject Right to Transfer (Portability) |
| Art.33 | Personal Information Impact Assessment |
| Art.34 | Penalties for Legal Entities |
| Art.35 | Penalties for Disclosure of Sensitive Data |
| Art.36 | Administrative Fines |
Chapter VI — Protection of Data Subjects
| Code | Title |
|---|---|
| Art.38 | Data Protection Impact Assessment |
| Art.38-2 | Right to Data Portability |
| Art.38-3 | MyData Business |
| Art.39 | Liability for Damages and Statutory Damages |
| Art.40 | Complaint Handling |
Consent
| Code | Title |
|---|---|
| CIA-CONS-02 | Consent for provision and use of credit information |
Cross Border
| Code | Title |
|---|---|
| CIA-TRANS-11 | Cross border transfer of credit information |
Data Subject Rights
| Code | Title |
|---|---|
| CIA-ACC-06 | Data subject access, correction, and deletion rights |
Governance
| Code | Title |
|---|---|
| CIA-OFF-03 | Credit information management and protection officer |
Incident
| Code | Title |
|---|---|
| CIA-BRC-09 | Breach notification to data subjects and FSC |
Information Security
| Code | Title |
|---|---|
| CIA-SEC-08 | Technical and physical safeguards |
Legal Basis
| Code | Title |
|---|---|
| CIA-LAW-01 | Lawful basis for processing credit information |
Licensing
| Code | Title |
|---|---|
| CIA-INQ-13 | Credit inquiry company licensing and operation |
Lifecycle
| Code | Title |
|---|---|
| CIA-RET-07 | Retention and destruction of credit information |
Marketing
| Code | Title |
|---|---|
| CIA-MKT-12 | Use of credit information for marketing |
Monitoring
| Code | Title |
|---|---|
| CIA-LOG-14 | Access and provision logs |
MyData
| Code | Title |
|---|---|
| CIA-MYD-05 | MyData service authorisation and operation |
Pseudonymisation
| Code | Title |
|---|---|
| CIA-PSEUDO-04 | Pseudonymised credit information processing |
Risk Management
| Code | Title |
|---|---|
| CIA-RISK-16 | Risk assessment for personal credit information |
Supervision and Enforcement
Supervisory bodies, liability, and penalty frameworks
| Code | Title |
|---|---|
| Art. 32 | Entry into Force |
| Art. 34 | Notification of Personal Information Breach |
| Art. 36 | Right to Correction or Deletion |
| Art. 69-71 | Supervisory Powers |
| Art. 70 | Criminal Penalties for False Consent |
| Art. 73 | Reporting of Serious Incidents |
| Art.45 | Entry into force |
| Art.50 | Good Practices and Governance |
| Art.51 | Exercise of the power to impose administrative penalties and remedial measures |
| Art.52 | Administrative Sanctions |
| Sec. 35 | Security of Processing |
| Sec. 37 | Financial Penalties |
| Sec. 40 | Right to Object |
| Sec. 72 | Offences and penalties |
Supervisory Engagement
| Code | Title |
|---|---|
| CIA-INSP-20 | FSC and FSS inspection cooperation |
Third Party
| Code | Title |
|---|---|
| CIA-OUT-10 | Outsourcing of credit information processing |
Transparency
| Code | Title |
|---|---|
| CIA-PRV-POL-15 | Public disclosure of credit information processing policy |
Vulnerable Subjects
| Code | Title |
|---|---|
| CIA-CHILD-17 | Protection of minors credit information |
Your Compliance Coverage
If you comply with South Korea Credit Information Act, you already cover:
EU AI Act
17%
9 controls mapped
Compare →Greece Law 4624/2019 — Hellenic Data Protection Authority (HDPA) Implementation Act
17%
9 controls mapped
Compare →Digital Services Act (DSA) - Regulation (EU) 2022/2065
17%
9 controls mapped
Compare →+ 552 more: EU In Vitro Diagnostic Medical Devices Regulation (IVDR) (17%), EU Network Code on Cybersecurity for the Electricity Sector (17%)
See all 555 mapped frameworks ↓Maps to 555 other frameworks
Frequently Asked Questions
What is South Korea Credit Information Act?
South Korea Credit Information Act is a compliance framework from South Korea with 25 domains and 52 controls. The South Korea Credit Information Use and Protection Act (as amended 2020, effective 2021) regulates the collection, use, and protection of credit information (financial and personal credit data). The 2020 MyData amendments enable individuals to request their financial data be transferred to authorized third-party service providers. Financial Services Commission (FSC) and Financial Supervisory Service (FSS) oversee compliance. Covers credit bureaus, financial institutions, and MyData operators. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
How many controls does South Korea Credit Information Act have?
South Korea Credit Information Act has 52 controls organised across 25 domains. The largest domains are Supervision and Enforcement (14 controls), Chapter IV — Distribution, Use, and Management (5 controls), Chapter VI — Protection of Data Subjects (5 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
What frameworks does South Korea Credit Information Act map to?
South Korea Credit Information Act maps to 555 other compliance frameworks. The top mapping partners are EU AI Act (17% coverage), Greece Law 4624/2019 — Hellenic Data Protection Authority (HDPA) Implementation Act (17% coverage), Digital Services Act (DSA) - Regulation (EU) 2022/2065 (17% coverage). Use our comparison tool to explore control-level mappings between frameworks.
How do I get started with South Korea Credit Information Act compliance?
Start your South Korea Credit Information Act compliance journey by running a self-assessment on our platform to identify your current compliance posture. Our AI advisory can answer specific questions about South Korea Credit Information Act requirements, and cross-framework mapping helps you leverage existing controls from other frameworks you may already comply with. Create a free account to access all 52 controls and track your progress.
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