On Monday, June 12, 2017, South Korea’s Ministry of the Interior and the Korea Communications Commission announced that South Korea has secured approval to participate in the APEC Cross-Border Privacy Rules (“CBPR”) system. South Korea had submitted its intent to join the CBPR system back in January 2017. South Korea will become the fifth APEC economy to join the CBPR system. The other four participants are Canada, Japan, Mexico and the United States.
The APEC CBPR system is a regional, multilateral cross-border data transfer mechanism and enforceable privacy code of conduct developed for businesses by the 21 APEC member economies. The CBPRs implement the nine high-level APEC Privacy Principles set forth in the APEC Privacy Framework. Although all APEC economies have endorsed the system, in order to participate individual APEC economies must officially express their intent to join and satisfy certain requirements.