keep The Data Protection (Adequacy) (Republic of Korea) Regulations 2022
The Data Protection (Adequacy) (Republic of Korea) Regulations 2022 designate South Korea as an 'adequate country' for UK GDPR data transfer purposes, allowing personal data to flow to Korea without additional safeguards. It identifies Korea's Personal Information Protection Act and its supervisory authorities (Personal Information Protection Commission and Financial Services Commission) as providing an adequate level of protection.
Without this designation, UK businesses transferring data to Korea would incur significant compliance costs implementing Standard Contractual Clauses or Binding Corporate Rules for each transfer. While government adequacy lists are imperfect, deleting this specific regulation would harm UK businesses engaged in legitimate trade with Korea, who relied on this legal certainty when structuring their data flows. The availability of alternative transfer mechanisms mitigates but does not eliminate the cost increase.