Annual Report 2014 However, the Ministry of Science, ICT and Future Planning expressed its refusal to accept the recommendations, by reasoning that investigative agencies are against the strengthening of requirements for access to communication data and communication confirmation data as it will take more time and thereby may hinder investigations, and that an amendment bill was under discussion at the National Assembly on July 9, 2014. The NHRCK publicly announced the Ministry’s non-acceptance of its recommendation on September 1, 2014. ■ Recommendation on Amending the Financial Holding Companies Act Financial institutions collect anywhere from 20 to 50 pieces of personal information items including resident registration numbers and for the past three years from 2011 to 2013, about 15.4 billion information items were shared amongst them. In addition, more than 100 million personal information items have been leaked from 19 financial institutions for the last five years, raising severe concerns over the protection of personal information and the needs for fundamental institutional improvements on collecting, and using, personal information as well as for the revision of Article 48-2 of the Financial Holding Companies Act which allows personal information to be provided and shared by financial holding companies. After reviewing the provision, the NHRCK found that Article 48-2 of the Financial Holding Companies Act, which allows financial holding companies and their affiliates to share clients’ personal information for the purpose of using it in operating their business including marketing, may have legitimate intents of legislation in facilitating the business process and enhancing financial competitiveness, however it undermines the right of self-determination for personal information guaranteed by the Constitution for the following reasons: sharing personal information can be achieved 84 ▪▪▪ Part II. Major Activities of the Commission