개인정보보호규제의 기회비용 및 국내법 개정을 위한 제언 - 금융부문 개인정보보호규제를 중심으로 -

This paper aims to stimulate a discussion on information privacy issues in the area of finance industry as well as the privacy regulations in general. First, statutory grounds for the collection, use and dissemination of personal information, with emphasis on the opt-in and opt-out consent procedure, were compared across three different regimes. The comparison of the U.S., the E.U, and Korean systems reveal that different ‘levels’ of privacy protection exist. Secondly, in order to assess the impact of the different levels of privacy protection, past research quantifying the market value of information or subjective acceptance level of information exposure is introduced. Based on these results, a need for a more balanced view that takes into account the opportunity cost, as well as the benefit, of the privacy regulation is emphasized. The need for a general law incorporating both off- and on-line personal information is also proposed.