UK and South Korea sign data sharing agreement

UK is pushing for similar trade deals with over a dozen countries

An in-principle agreement has been struck between the UK and South Korea to share data. It is the first deal of its kind for the UK with any state since it left the EU in early 2020.

The deal will likely affect ordinary people, as the agreement includes the rights for both nations to use personal data from each country commercially. Companies will also be able to move their data between the two countries without any restrictions.

Officially, the agreement is called ‘a data adequacy decision', according to Politico. It is hoped it will accelerate the growth of the UK-South Korean data trade, which already stands at over $1 billion.

A key argument from those who backed the UK's exit from the EU was that Brexit would allow the UK to sign more deals and agreements. Since this is an in-principle agreement though, it is unknown when, if ever, it will come into full effect. The EU already has a fully signed data adequacy deal with South Korea.

The UK says it is pushing for similar trade deals with over a dozen countries, including Australia, India, Singapore and the US.

A statement signed by both states, released on July 5th, said: "Today's agreement is an important milestone in the strengthening of cooperation between the UK and Republic of Korea. The promotion of the trustworthy use and exchange of data across borders is key to realising a more secure and prosperous future for our citizens, businesses, and governments."

It continues: "Today's UK data adequacy decision in principle follows nearly a year's worth of positive, productive, and enlightening discussions on how our respective nations value, protect, and promote the protection of personal data.

"Our governments' commitments and work underpin the important role for the trustworthy use of data in international commerce, innovation, and research as well as in empowering and protecting individuals and in sustaining democratic and peaceful societies.

"As democratic and like-minded partners seized of the importance of these issues, we agree to contribute to a healthier and more sustainable global data ecosystem based on free and safe data flows."

UK Prime Minister Boris Johnson met South Korea President Yoon Seok-youl at the Madrid NATO Summit on June 30th in a bilateral meeting to discuss the future relationship of their respective countries.

While initial statements mention the importance of data protection, the full privacy implications of the planned deal are unclear at this stage.