This week, it was officially announced that South Korea has
become the fifth country to join the Asia-Pacific Economic
Cooperation's (APEC) Cross Border Privacy
Rules (CBPR) system. This system was developed by APEC in 2011
to "build consumer, business and regulator trust in cross
border flows of personal information" and thus facilitate
e-commerce among APEC countries. The Ministry of Interior and the
Korea Communications Commission stated on Monday that approval for
joining the CBPR had been secured. In order for countries to opt in
to the system, their legal systems and privacy protection must meet
APEC's standards.
APEC is an economic forum comprised of countries throughout
Asia-Pacific. APEC's importance should be noted: its 21 member
economies comprise 54 per cent of the world's GDP and 40 per
cent of world trade. It exists to assist in trade through faster
customs procedures and initiatives to synchronise regulatory
systems across its member countries. The
