Yoon & Yang, MLex host forum on data protection regulations

Responding to stricter requirements for data protection, law firm Yoon & Yang co-hosted a related seminar with regulatory insight provider MLex this week.

The event, titled “Data Protection Regulations in Korea and EU,” was held Tuesday at the headquarters of Yoon & Yang, the country’s sixth-largest law firm both in size and sales.

MLex is a news organization affiliated with LexisNexis, specialized in regulatory risks. It has a global network of more than 80 regulatory reporters in 13 cities worldwide.

Major economies have been introducing new regulations for data protection. Taking the lead was the European Union, which enforced the General Data Protection Regulation in May last year.

Standardizing each member country’s regulations and adopting stricter rules on fines, the GDPR has impacted not only the EU market but global industries in general. Korea has also been strengthening its requirements in line with changing global practices.

The seminar was organized to provide effective legal services to companies in light of the renewed data protection rules, officials said.

In the first of three sessions, MLex Editor-in-Chief Lewis Crofts introduced the latest GDPR trends in the EU. The second session was led by Lee Keun-woo, a partner at Yoon & Yang and expert in trade secrets and data protection compliance, who analyzed the legal implications of the GDPR in Korea.

Speaking in the third session was Lee Kwang-wook, also a partner at the firm and expert in media, IT and data protection, who offered insights based on hands-on experience.

“We are responding to ever-changing data protection regulations more swiftly than our competitors, providing legal services that meet the needs of each client,” said Jeong Jin-su, a managing partner of the firm.

By Bae Hyun-jung (tellme@heraldcorp.com)