In connection with introduction by Company B, which is a life insurance company, of a service called Smart Benefits Analysis which utilizes blockchain technology and was to be provided in consortium with certain other companies, Lee & Ko was entrusted to advise on the legal risks arising from the compliance requirements under personal information protection laws, medical laws, and insurance service laws and provided alternative business models to ensure compliance..
Specifically, Lee & Ko reviewed and provided legal advice on whether it is possible to store customer information in the blockchain ledger and share it among companies constituting the consortium, whether it is possible for Company B to use personal information held by member hospitals and companies in the consortium in this process, and who was responsible for leaked information stored in the blockchain ledger.