Korea suffers over 106 million privacy breaches in 4 years

South Korea, one of the most wired countries in the world, has suffered over 106 million leaks of personal information by the negligence of private companies in the last four years, reports ZDNet Korea's Cho Mu-hyun.

The shocking figure of over 106 million privacy breaches was unveiled by a report of data leaks between 2010 to 2014 filed by the Korea Communication Commission (KCC) to the National Assembly during the yearly government audit of ministries.

The figure means that each person has, on average, had his or her personal information leaked 2.1 times during the past four years in a country with a population of 50 million.

The privately owned companies that were responsible were fined a mere 1.77 billion won ($1.6 million) in total for their negligence during the four years, which is being criticised by market watchers for being disproportionately low considering the serious breach of trust.

Personal information of one individual was transacted at 150 to 200 won (14 cents to 19 cents) on the black market, the report also showed.

Local IT service company SK Comms and telco KT were responsible for the most leak of 35 million and 20.43 million people, respectively.

Source: ZDNet Korea (zdnet.co.kr)