Joint Statement by Commissioner Reynders and Yoon Jong In, Chairperson of the Personal Information Protection Commission of the Republic of Korea
In their call today, Commissioner for Justice Didier Reynders and Chairperson of the Personal Information Protection Commission Yoon Jong In welcomed the successful conclusion of the adequacy talks between the European Union and the Republic of Korea.
The adequacy dialogue confirmed the high degree of convergence between the European Union and the Republic of Korea in the area of data protection, which increased further with the recent entry into force of the new Personal Information Protection Act in the Republic of Korea and the strengthening of the powers of the Personal Information Protection Commission.
Building on these similarities, which ensure the continuity of protection for the exchange of personal data, an adequacy finding will enable free and safe data flows from the EU to the Republic of Korea.
By covering both commercial operators and the public sector, such an adequacy finding will not only support business operators transferring personal data as part of their commercial operations, but also facilitate regulatory cooperation, to the benefit of both sides.
It will also complement the EU-Republic of Korea Free Trade Agreement and boost cooperation between the EU and the Republic of Korea as leading digital powers.
Both sides agreed that an adequacy finding will open new opportunities for closer cooperation between the EU and the Republic of Korea to promote high standards of data protection at global level, based on their strong commitment to shared values concerning privacy.
The European Commission will now proceed with launching the decision-making procedure with a view to having the adequacy decision adopted as soon as possible in the coming months.
The European Commission will now launch the procedure for the adoption of its adequacy finding. This involves obtaining an opinion from the European Data Protection Board (EDPB) and the green light from a committee composed of representatives of the EU Member States. Once this procedure will have been completed, the Commission will adopt the adequacy decision on the Republic of Korea.
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