Amazon to Face 470 Billion KRW Fine for Personal Data Violation in Europe

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] On the 10th (local time), the Wall Street Journal (WSJ) reported, citing sources, that Amazon is expected to be fined nearly 500 billion won for violating user privacy in Europe.

According to the report, Luxembourg regulators proposed a fine of $425 million (approximately 472.6 billion won) to Amazon for violating the European Union's (EU) General Data Protection Regulation (GDPR). The specific allegations against Amazon were not disclosed. WSJ stated that the proposal submitted by Luxembourg authorities requires approval from other EU member states to be enforced, and the amount of the fine could change during this process.

This fine is expected to be the largest ever imposed on a company for violating the GDPR. However, WSJ added that there are opinions within the Luxembourg regulatory authority that Amazon should be fined more. Companies that infringe on personal information can be fined up to 4% of their annual revenue, but the amount proposed for Amazon is only 0.1% of last year's revenue.

Previously, in January 2019, France fined Google 50 million euros (approximately 67.69 billion won) for failing to ensure transparency and accessibility in the consent process for providing personal information.