Koreans Push for EU-Style Punitive Damages as Trust in Corporate Data Security Erodes | Be Korea-savvy

Koreans Push for EU-Style Punitive Damages as Trust in Corporate Data Security Erodes


As hacking incidents at telecom companies continue to expose customer data, concerns are mounting over potential breaches at South Korea’s three major mobile carriers. (Yonhap)

As hacking incidents at telecom companies continue to expose customer data, concerns are mounting over potential breaches at South Korea’s three major mobile carriers. (Yonhap)

SEOUL, Oct. 1 (Korea Bizwire) — In the wake of a string of high-profile data leaks, an overwhelming majority of South Koreans say they view such incidents as a serious threat and support adopting punitive damages similar to those in Europe and other advanced economies, a new poll shows.

According to a Realmeter survey of 500 adults released Tuesday, 94.4 percent of respondents said they were aware of recent personal data breaches, and 92.2 percent said the leaks worried them regardless of whether they had been directly affected. Nearly 95 percent described the issue as “serious.”

The poll found 83.1 percent backed introducing a punitive damages system to hold companies more accountable for mishandling personal information. In terms of compensation, nearly half (49.8 percent) preferred direct financial payments, followed by fee reductions (21.3 percent), public apologies (16.4 percent), and free services (4.6 percent).

Trust in corporate data security remains low, with 67.1 percent of respondents saying they do not believe companies adequately protect personal information. Nearly 89 percent said security standards were a more important factor than cost or benefits when choosing a service.

The survey, conducted Sept. 24 via random-digit dialing, had a margin of error of plus or minus 4.4 percentage points at a 95 percent confidence level.

M. H. Lee (mhlee@koreabizwire.com)

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