On March 30, 2021, the European Commission announced—along with the South Korean data protection authority—the positive conclusion of talks on negotiations on a future adequacy decision between the EU and the Republic of Korea. According to the Commission, “[…] the adequacy dialogue confirmed the high degree of convergence between the European Union and the Republic of Korea in the area of data protection, which increased further with the recent entry into force of the new Personal Information Protection Act in the Republic of Korea and the strengthening of the powers of the Personal Information Protection Commission.”
Such an adequacy decision will allow the free flow of personal data from the EU to the Republic of Korea, covering both private and public data controllers, and ultimately benefit commercial data transfers and facilitate regulatory cooperation.
Indeed, based on article 45, paragraph 3 of the General Data Protection Regulation (“GDPR”), “The Commission, after assessing the adequacy of the level of protection, may decide, by means of implementing act, that a third country, a territory or one or more specified sectors within a third country, or an international organisation ensures an adequate level of protection within the meaning of paragraph 2 of this Article.”
Kaufhold & Reveillaud, Avocats can assist you with any GDPR-related questions you may have. Please do not hesitate to contact us.
