(1) A provider of information and communications services meeting all of the following requirements (referring to those who fall under Article 2 (1) 3 of the Act on Promotion of Information and Communications Network Utilization and Information Protection; hereafter in this Article, the same shall apply) and a person who is provided by such provider with the personal information of users (referring to those who fall under Article 2 (1) 4 of that Act; hereafter in this Article, the same shall apply) under Article 17 (1) 1 of the Act shall purchase insurance or join a mutual aid organization or accumulate reserves pursuant to Article 39-9 (1) of the Act:

1. The Information and Communications Service Providers, etc. whose sales revenue for the previous business year (the previous business year for a corporation) was 50 million won or more;
2. The Information and Communications Service Providers, etc. who stored and managed personal information of one thousand users or more on average per day during the three-month period immediately preceding the end of the previous year.

(2) The standards for the minimum insurance subscription amount (referring to a minimum reserve amount in cases of accumulating reserves; hereafter in this Article the same shall apply) applicable to the Subject Personal Information Controllers (referring to a provider of information and communications services meeting all of the requirements specified in the subparagraphs of paragraph (1) and a person who is provided by such provider with the personal information of users under Article 17 (1) 1 of the Act; hereafter in this Article, the same shall apply) in cases of purchasing insurance, joining a mutual aid organization or accumulating reserves shall be as set forth in attached Table 1-4: Provided, that if any Subject Personal Information Controller purchases insurance or joins a mutual aid organization, and accumulates reserves at the same time, the sum of the insured or mutual aid amount and reserves shall be equal to or exceed the minimum insurance subscription amount set forth in attached Table 1-4.

(3) If a Subject Personal Information Controller purchases insurance, joins a mutual aid organization or accumulates reserves which guarantee the performance of the damage liabilities under Articles 39 and 39- 2 of the Act in accordance with other statutes, the Subject Business Entity shall be deemed to have purchased insurance, joined a mutual aid organization or accumulated reserves pursuant to Article 39-9 (1) of the Act.