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An adequacy decision procedure for data transfers from the EU to South Korea is currently underway. This agreement will allow for smoother flows of personal data by recognising that South Korea offers the same protections as Europe
Didier Reynders, European Commissioner for Justice, and Yoon Jong In, President of the South Korean equivalent of the CNIL, welcomed the conclusion of talks on a future adequacy decision on data transfer.
The agreement would allow data to flow freely between the 28 Member States and South Korea, without the need for additional authorisations or safeguards. This process was made possible in part by a strengthening of South Korea's personal data legislation, including the increased powers of its equivalent Cnil
Supporting the European economy
As the EU executive explains, this decision will support economic operators transferring personal data in the course of their business activities and facilitate regulatory cooperation. European companies will also benefit from unhindered data flows to and from South Korea, as well as privileged access to its 52 million consumers.
The European Commission still needs to obtain the endorsement of the European Data Protection Committee (EDPS) and a committee of EU Member States' representatives before the adoption procedure is approved.
It should be recalled that the European Commission has already adopted adequacy decisions concerning the following countries and territories: Andorra, Argentina, Canada, Faroe Islands, Guernsey, Israel, Isle of Man, Jersey, New Zealand, Switzerland, Uruguay and Japan. The United States has recently been removed from this list following the invalidation of the Privacy Shield in July 2020 by the Court of Justice of the European Union.