Major negligent data leaks in Korea can draw fines of up to 10% of annual revenue, Korea JoongAng Daily reports

Korea JoongAng Daily reports that revised privacy rules allow fines of up to 10% of annual revenue for companies behind major negligent data leaks. The publisher says Korea's privacy regulator is sharply raising the cost of breaches to push companies to treat data protection as a preventive investment rather than a routine cost of doing business.