"Increasing Security Transparency"... Toss Establishes Data Protection Compliance Advisory Committee
Professors Kwon Heon-yeong and Kim Seung-joo of Korea University and Kim Cheol-jun, Advisor at Law Firm Gwangjang, Participate
Biannual Data Protection Strategy Reporting and Monitoring
From the left, Lee Seung-geon, CEO of Toss; Kim Seung-joo, Professor at Korea University; Kwon Heon-young, Professor at Korea University; Kim Cheol-jun, Advisor at Law Firm Gwangjang; Shin Yong-seok, Chief Privacy Officer (CPO) at Toss
View original image[Asia Economy Reporter Minwoo Lee] Toss has formed a committee composed of external security experts to transparently manage its information security system.
Toss operator Viva Republica announced on the 16th that it will launch the 'Data Protection Compliance Advisory Committee' consisting of three external experts. The advisory committee is chaired by Professor Heonyoung Kwon of Korea University's Graduate School of Information Security, with Professor Seungjoo Kim from the same graduate school and Attorney Cheoljun Kim from the law firm Kwangjang serving as advisory members. The committee plans to expand its size in the future.
The committee will verify and monitor whether Toss processes customer data in accordance with relevant laws. It will also provide advisory roles for establishing a data governance system.
Going forward, Toss will report its data protection strategies, policies, and compliance monitoring activities to the committee every six months. For issues with high sensitivity in personal data processing, the committee plans to provide opinions to the CEO of Toss and the Chief Privacy Officer (CPO). Toss will actively accept the committee's opinions and disclose related results on its website.
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Shin Yongseok, Toss CPO, explained, "As we have grown into a financial platform used by 14 million people monthly, there was an internal consensus on the need to more actively review and improve the transparency of our customer data protection system through external perspectives."
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