UK-South Korea data transfer deal expected to be in force 19 December
The UK government has finalised its data adequacy decision for South Korea and the statutory instrument implementing this arrangement is expected to be approved by Parliament before Christmas.
This first UK data adequacy decision goes beyond the EU’s similar decision, the Department for Digital, Culture, Media and Sport (DCMS) says. “The most significant difference between the two deals is that UK organisations will be able to share personal data related to credit information with the Republic of Korea to help identify customers and verify payments. The ability to share this type of data will help UK businesses with a presence in the Republic of Korea to boost credit, lending, investment and insurance operations in the Republic of Korea.”
The ICO has been involved in an advisory role during this assessment, and has committed to publishing its opinion. The other priority countries that the government is working on include the United States, Australia, Singapore, the Dubai International Finance Centre and Colombia.