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Government Legislation

  • Enforcement Rule of the Use and Protection of Credit Information Act
    • Competent Ministry : Financial Services Commission
    • Advance Publication of Legislation : 2020-05-29
    • Opinion Submission Deadline : 2020-06-19

A. The examination procedures for the permission of the MyData service and the report, etc., of suspension, discontinuation, or concurrent operation of the service (Articles 3, 4, and 5) 

Regulate the specific standards for such as the Financial Services Commission's examination procedures for the permission of the MyData service and the report, etc., of suspension, discontinuation, or concurrent operation of the MyData service in the same manner as of the credit information business

B. Mitigate regulations restricting the use of personal credit information (Article 6-2) 

If an insurance company intends to perform a service as an incidental business for the purpose of maintaining and promoting health for individuals or preventing diseases or deterioration of a disease, or if a MyData service entity intends to perform a service integrating and providing the information on the illness of individual owners of credit information to them, enable the processing of the information after the prior consent of the owner of credit information

C. Criteria for administrative disposition (attached Table) 

Establish administrative disposition criteria for newly established regulations under the revised Use and Protection of Credit Information Act



Regulatory effect assessment
  • 신용정보의 이용 및 보호에 관한 법률 시행규칙 규제영향분석서.hwp [download]
Legislative proposal (draft)
  • 신용정보의 이용 및 보호에 관한 법률 시행규칙 일부개정령안.hwp [download]