What It Is

K-PIPA (Personal Information Protection Act) is South Korea's comprehensive data privacy regulation, enacted in 2011 with major amendments in 2020, 2023, and 2024. It governs collection, use, storage, transfer, and destruction of personal information by domestic and foreign entities processing Korean residents' data. Adopting a consent-centric, risk-based approach, it emphasizes transparency, purpose limitation, and data minimization.

Key Components

• Core principles: explicit granular consent, security safeguards, data subject rights.
• Mandatory elements: Chief Privacy Officers (CPOs), encryption/access controls, 72-hour breach notifications.
• Rights include access, erasure, portability within 10 days; automated decision objections.
• Enforcement via PIPC with fines up to 3% revenue; no formal certification but ISMS-P for transfers.

Why Organizations Use It

Legal compliance avoids massive fines (e.g., Google's KRW 70B); builds trust in privacy-sensitive market. Enables secure cross-border operations via EU adequacy; reduces breach risks through CPO governance.

Implementation Overview

Phased: gap analysis, CPO appointment, consent tools, technical controls, training. Applies to all data handlers globally targeting Koreans; audits via PIPC guidelines. Typical for mid-large firms: 12-18 months.

What It Is

ISO 37001 is the international standard for Anti-Bribery Management Systems (ABMS), a certifiable framework first published in 2016 and revised in 2025. It provides requirements and guidance to prevent, detect, and respond to bribery risks. The risk-based approach follows the ISO Harmonized Structure (clauses 4-10), aligning with PDCA cycles for integration with other ISO standards.

Key Components

• Leadership commitment, anti-bribery policy, and compliance function.
• Bribery risk assessment, due diligence, financial/non-financial controls.
• Training, awareness, reporting, investigations, and monitoring.
• Performance evaluation via audits and reviews; continual improvement. Built on proportionality, it emphasizes third-party controls without fixed control counts.

Why Organizations Use It

• Mitigates legal risks (e.g., FCPA, UK Bribery Act) and reduces liability.
• Enhances reputation, stakeholder trust, and ESG alignment.
• Drives efficiencies (up to 15% compliance cost reduction) and market access.
• Builds ethical culture amid 95% third-party bribery cases.

Implementation Overview

Phased approach: gap analysis, risk assessment, control design, training, audits. Scalable for all sizes/sectors; certification optional via accredited bodies with 3-year cycles.