The Ministry of Science and ICT announced on the 9th that it will pre-announce the amendment to the Enforcement Decree of the Act on the Promotion of Information Protection Industry (hereinafter referred to as the Information Protection Industry Act) until the 19th of next month. This amendment is one of the follow-up measures to the ‘Comprehensive Information Protection Measures’ announced jointly by relevant ministries in October last year to alleviate public anxiety caused by recent widespread hacking incidents and to strengthen the nation’s information protection capabilities.
This measure aims to eliminate blind spots in the information protection disclosure system and strengthen the information protection responsibilities of companies with high social influence, such as listed companies. It removes the existing condition of ‘sales of 3 trillion won or more’ applied to listed companies, expanding the disclosure obligation to all listed corporations on the KOSPI and KOSDAQ markets. Additionally, companies obligated to obtain Information Security Management System (ISMS) certification are newly included in the disclosure obligation.
Furthermore, it enhances the fairness of the system application by deleting the exception clauses for public institutions, financial companies, small businesses, and electronic financial operators that were previously excluded from the obligation. The full text of the amendment to the Enforcement Decree of the Information Protection Industry Act can be found on the Ministry of Science and ICT’s website under the ‘Legislation/Administrative Notice’ board, and opinions can be submitted through the National Participation Legislation Center.
During the pre-announcement period, the Ministry of Science and ICT plans to sufficiently gather opinions from stakeholders and the public through public hearings, and proceed with follow-up procedures such as consultations with relevant ministries and review by the Ministry of Government Legislation, aiming for the application to information protection disclosure targets from 2027. To alleviate the burden on newly included targets, the ministry plans to distribute disclosure guidelines, provide customized consulting, and support education.