International: European Commission and PIPC conclude adequacy finding for South Korea
The European Commissioner, Didier Reynder, and the Chairperson of the Personal Information Protection Commission ('PIPC'), Yoon Jong, announced, on 30 March 2021, in a joint statement that the organisations have concluded the adequacy decision findings. In particular, the European Commission noted that the recent amendments to South Korea's data protection law and the strengthening of the PIPC has enabled a high degree of convergence between the European Union and South Korea in the area of data protection. Furthermore, the European Commission confirmed that it will now proceed with the decision-making procedure with concluding the adoption of the adequacy decision in the coming months.
The next steps include the receipt of an opinion by the European Data Protection Board ('EDPB'), and approval by a committee composed of representatives of the EU Member States.