📅
Effective Date
Jan 2022
Full Compliance
Jan 2023
🏛️
Regulator
Financial Services Commission
FSC
📊
Scope Areas
5

Overview

Korea's comprehensive personal data portability framework spanning financial services, telecommunications, and public data. MyData operators aggregate data across multiple sectors with user consent.

Note: Over 50 licensed MyData operators. Strong focus on credit data and loan comparison.

Jurisdiction

South Korea
View Open Banking providers and TPPs in South Korea

Scope & Coverage

This regulation covers the following areas and services:

BankingInsuranceSecuritiesCredit CardsTelecoms

Key Requirements

MyData business license
Cross-sector data aggregation
API standardization
Enhanced consent management

Timeline

Effective Since
January 1, 2022
Full Compliance Deadline
January 1, 2023

Official Resources

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