Korean Information Protection Disclosure Obligations of the Korean Ministry of Science and ICT

The Korean Ministry of Science and ICT implemented new criteria for companies subject to Information Protection Disclosure Obligations under Korean Law. The companies required to disclose must disclose by June 30, 2025. Non-compliance may lead to a fine of up to KRW 10,000,000.

Article 13(2) of the Korean Act on the Promotion of Information Protection Industry requires companies that meet particular criteria to disclose particulars related to staffing and investment related to information protection efforts, including, certifications, monetary investments, staff, audits, and other activities and assets dedicated to the protection of information.

Disclosure can be made via: MSIT’s Information Protection Disclosure Comprehensive Portal. Disclosure should be made no later than June 30, 2025, and we advise giving enough lead time, the disclosure is not as simple as just filing out a similar form from previous years. The form this year requires more comprehensive explanations and details including the Organization Structure that includes your CISO and CPO; Specific Infrastructure; Protection Strategies & Policies; and Completed & In Process Certifications, Audits, and Evaluations.

by Sean Hayes

Sean Hayes is the first non-Korean attorney to have worked for the Korean court system (Constitutional Court of Korea) and one of the first non-Koreans to be a regular member of a Korean law faculty. Sean is ranked, for Korea, as one of only a few non-Korean lawyers as a Top Attorney by AsiaLaw. Sean is regularly quoted by leading international media sources, including the Wall Street Journal, New York Times, France 24, and Bloomberg. Sean works with leading retired judges, former government attorneys, corporate counsel, and top-rated lawyers who worked with major global law firms throughout Asia, Europe, and North America.