The United Kingdom and South Korea announced an agreement to allow the transfer of data between the two countries without any restrictions, the first such deal after Brexit. The agreement would allow the two countries to share data generated in their respective countries and use or operate in the other. Data sources include GPS, smart devices, online banking, research, Internet services, and more.
For example, Samsung and LG Electronics will be able to share data freely and maintain high standards of protection, and will no longer require contractual safeguards such as international data transfer agreements and binding corporate rules.
Moreover, the British government stated in the announcement that the agreement will release digital trade between the United Kingdom and South Korea, worth over 1.3 billion pounds.
UK Minister of State for Media, Data, and Digital Infrastructure Julia Lopez said: This agreement is an important milestone in strengthening cooperation between the UK and South Korea. Facilitating the trusted use and exchange of data across borders is key to a more secure and prosperous future for our citizens, businesses, and governments.
Jong in Yoon, a member of the Korea Personal Information Protection Commission, said in a statement: I am honored to agree to this joint statement. Strengthening collaboration between the UK and South Korea, based on a shared understanding of high standards of protection, could contribute to a healthier and more sustainable global data landscape.