Seminar on ‘Harmonious Development of Regulatory Frameworks for Personal and Financial Information’

On June 19, Lee & Ko hosted a seminar on ‘Harmonious Development of Regulatory Frameworks for Personal Information and Financial Information’ together with the Korea Association of Personal Data Professionals (KAPP) and the Financial Security Institute (FSI).  

The event brought together a diverse group of experts from regulatory bodies and the financial industry to address the evolving landscape of data protection in finance.

The seminar opened with an insightful keynote address on ‘Development of MyData and the Data Ecosystem’ delivered by Vice Chairperson Jang Hyuk Choi of the Personal Information Protection Commission (PIPC). Lee & Ko’s partner Kyung Min Son provided valuable insights on practical compliance strategies for financial institutions under the amended Personal Information Protection Act. Son emphasized the critical need for companies to adapt their practices in response to increased penalties and heightened regulatory oversight.

Following the presentations, a dynamic panel discussion explored the future of personal information, financial information, and the MyData ecosystem. The panel included representatives from the PIPC, the FSC, and industry experts. Lee & Ko’s partner Hyun Jeong Cha contributed to the discussion with valuable observations on the importance of balancing innovation and risk management when operating the MyData system.

This seminar underscores Lee & Ko’s ongoing commitment to guiding clients through the intricate interplay of technology and regulation in the financial sector. As the regulatory landscape continues to evolve, Lee & Ko remains at the forefront, providing expert advice to help businesses navigate these complex changes effectively.