1. With the EU’s General Data Protection Regulation (GDPR) slated to be brought into force on May 25, experts raise in one voice the need for Korean companies seeking presence in EU member states to prepare themselves for the new regulations.

° According to the head of the Personal Information Protection Cooperation Division of the Ministry of the Interior and Safety, “As the Republic of Korea’s Personal Information Protection Act was drawn up based on a European model, (Korean) enterprises that have faithfully conformed to the Act need to prepare themselves mainly for the new or revised provisions in the GDPR.” She added, “With the European Commission expected to announce detailed guidelines at a later date than initially planned, it is necessary to remain attentive to the European Commission’s moves.”

* Nine out of the twelve sets of EU GDPR guidelines have been announced.

2. With the EU GDPR slated to come into force in the near future, the ROK government has set up an interagency system for response.

° Led by the Ministry of the Interior and Safety and the Korea Internet & Security Agency, a combined ten briefing sessions have been held for companies at home and in EU countries, and various educational materials on key content of the EU GDPR have been produced and distributed. Among such materials are the original text and a translated version of the EU GDPR, guidebooks, checklists and others -- ten types of contents in total.

° Such efforts have helped numerous companies better understand the new EU regulations, but a multitude of enterprises are still in urgent need of preparations. Therefore, the government plans to double interagency efforts in May and June to better inform them of the EU GDPR. The head of the International Cooperation Division of the Ministry of SMEs and Startups said, “The government will seek to raise awareness of small- and medium-sized enterprises and offer education and consultations to them in strong efforts to help them build capacity for responding to the situation.”

° The government, in cooperation with such business associations and groups as the Korea International Trade Association (KITA), the Korea Trade-Investment Promotion Agency (KOTRA) and the Korea Federation of SMEs, will hold briefing sessions for companies. For those unable to attend such events, educational contents will be offered on-line. For those in need of detailed consultations, the government will receive reports on their challenges and hold consultations with them.

° Brochures, guidebooks and other educational materials produced and distributed by the government are available for downloading at the Korea Internet & Security Agency’s GDPR website at http//gdpr.kisa.or.kr. Relevant inquiries may also be made at ☎061-820-1805. After the European Commission announces detailed guidelines in May, a new guidebook reflecting the EU guidelines will be published.

° Inquiries about the GDPR may be made at the help desks at KITA, KOTRA, 14 SME export support centers across the country, and the Korea Federation of SMEs. Expert consultations are available at the Korea Internet & Security Agency.

3. With regard to overseas transfer of personal information, companies’ key matter of interest, the government is holding comprehensive consultations (on adequacy decision) with the European Commission on on-line business, the area in need of the most urgent attention. Going forward, in addition to on-line business, the two sides will consult on manufacturing industry and in all the other trade-related areas.

* The EU has made an “adequacy decision,” pursuant to which when a company is acknowledged to protect personal information to the equivalent extent as that of the EU, it will be allowed to transfer that information without undergoing any further procedures.

° Upon completion of consultations, personal information will be allowed to be transferred from an EU member state to the ROK without the approval of that EU country, which is expected to contribute to more robust e-commerce between the ROK and the EU.

4. An ROK government official advised enterprises seeking business opportunities in Europe to pay keen attention to and abide by relevant laws of the EU countries so as to prevent themselves from facing any disadvantages, adding that the government will seek to swiftly wrap up the ongoing consultations and help companies shoulder less burden.

* unofficial translation