Korea raises data breach fines to 10% of revenue

Korea has increased the fines for data breaches to 10% of a company's revenue. This change is intended to hold companies more accountable for protecting user data. The move is a significant increase in the penalties for data breaches, aiming to encourage better data security practices. The new fine structure may have a substantial impact on companies that experience data breaches, potentially affecting their bottom line. The decision to raise fines is part of efforts to strengthen data protection in the country.