On 31 October 2024, the Personal Information Protection Commission of South Korea announced the equivalence recognition system for data transfers under the Personal Information Protection Act (PIPA) for the European Union. The system aims to support safe data transfers without additional mechanisms or approvals. In March 2023, the amendment to PIPA introduced new data transfer mechanisms, the “equivalency recognition”, akin to the EU’s adequacy decisions. This development positions the EU as the first foreign jurisdiction recognised as having adequate protection. Once the PIPC adopts its decision, the equivalence recognition system will allow for data transfers between both jurisdictions, eliminating the need for further authorisations or additional transfer mechanisms.
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