Like some of its neighbors in Asia, South Korea has taken data protection very seriously and has implemented a general data protection law- the Personal Information Protection Act or “PIPA”. It amended PIPA in 2016 by adding additional regulations and requirements.

As a risk management lawyer, among other things, I am often involved in privacy related issues. Not only am I involved with Korean privacy laws, but privacy laws in general especially those that impact the Asia Pacific Region.

Organizations always hope for sunny skies and calm seas when  conducting business. No one wants to be unpleasantly surprised nor exposed to rough weather, especially if such weather causes a  person or an organizations' reputation, financial well being or its very existence to be threatened.

Scope of Protection Software is protected in Korea as a copyrightable work in general under the Copyright Act (the Act) of Korea- having general provisions in Articles 101-2 through 101-7. This covers the protection of computer programs.

When considering global risks, companies doing business internationally must take a hard look at credit risks.  Customers in other countries may not have a credit rating to justify selling product on credit or it may be hard to find a company's credit history to justify selling on credit terms. 

It is very apparent that companies and organizations operating internationally face unprecedented global risks.  Global risks are not only interconnected but have systemic impacts requiring systems that can help companies measure, foresee and understand them in an uncertain and dangerous world.