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Korea raises data breach fines to 10% of revenue

339 points · 115 comments · throw7

  1. quickthrowman · · focus · HN ↗
    I would like to make a wager on this law being ignored the first time Samsung or another chaebol violates it and is facing a fine equal to 10% of revenue. I can almost guarantee it, it’s a high enough fine to turn some low-margin businesses from profitable to unprofitable for the year and there’s no such thing as a secure computer system. The only way to guarantee compliance is to not store any data which isn’t exactly reasonable for some business models.
    1. google234123 · · focus · HN ↗
      Probably a law targeted at foreign companies
      1. Retro_Dev · · focus · HN ↗
        I especially hope this holds true, because I don't want my information being leaked by anyone.
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