Global Relevance of South Korea’s Credit Information Use and Protection Act 2021

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Summary:
South Korea's Credit Information Use and Protection Act 2021 is a stringent legislation that aligns with global best practices in financial data protection. The Act sets high standards in areas such as consent, security, and information scope, making it relevant not only domestically but also internationally. The Act has implications for global financial activities, potentially influencing how credit information is shared internationally and shaping global financial data management strategies.