GoKawiilSouth Korea triples maximum data-breach fine to 10% of company revenue
South Korea's Personal Information Protection Commission has enacted rules allowing fines of up to 10% of a company's annual revenue for major data leaks caused by intent or gross negligence, up from the previous 3% cap. The new rules, effective Friday, apply when 10 million or more people's data is exposed, and also require firms to notify users within 72 hours even if a breach is only suspected. The heightened penalty targets repeat offenders within three years or firms that ignore corrective orders and are subsequently breached.