Korean Law in English
Laws › Credit Information Use and Protection Act › SECTION 1 Credit Information Business

Credit Information Use and Protection Act — Article 22-3 (Principles regarding personal credit rating)

신용정보의 이용 및 보호에 관한 법률 제22조의3

This English translation is based on the Korean text effective 2026-08-13. The Korean law has since been amended (current version effective 2026-09-11) — check the Korean original.

(1) In conducting personal credit rating services, a private credit rating company and its executive officers and employees shall take the following matters into account:

1. Whether the personal credit rating results are accurate and the rating system is fair;

2. Whether the personal credit rating process is open and transparent.

(2) A corporate credit inquiry company and its executive officers and employees engaged in the business affairs of providing corporate credit ratings or technology credit ratings shall perform their duties fairly and conscientiously from an independent point of view in performing the business affairs of providing corporate credit ratings or technology credit ratings.

(3) Paragraphs (1) and (2) shall apply mutatis mutandis sole proprietor credit rating companies and its executive officers and employees.[This Article Wholly Amended on Feb. 4, 2020]

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Korean original (law.go.kr) · Get articles as JSON via API

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