Republic of Korea: Announced results of FSS investigation into Kakao’s transfer of personal data without user consent to Alipay

On 13 August 2024, the Korean Financial Supervisory Service (FSS) announced the results of its investigation into Kakao Pay's overseas payment services conducted between May and July 2024. The FSS concluded that Kakao has provided Alipay personal data of all customers registered with Kakao Pay, including data of users who had not consented to overseas payment services. In particular, the FSS found that Kakao Pay had shared personal data, such as user’s account name, phone number, email, and credit information, in over 5.5 billion instances.