The Personal Information Protection Commission (PIPC) has announced that the results of its investigation into Worldcoin (WLD)’s personal data collection will likely be delayed. Initially, the investigation was expected to be concluded by July, but due to internal personnel changes, more time will be required. PIPC Chairman Haksoo Koh has postponed the announcement of the investigation results by one or two months.
The PIPC has been investigating the legality of WLD’s iris data collection and processing since late February. WLD is a cryptocurrency that generates a World ID through iris recognition and distributes WLD tokens. Concerns about personal data collection and overseas transfers led to the initiation of this investigation. Not only in South Korea but also in more than 12 countries, including Germany, Spain, and Portugal, regulations on WLD are expanding.
The delay in the PIPC’s investigation is expected to hinder WLD’s entry into the South Korean market and the progress of its business. WLD had planned to explore real-use cases through partnerships with South Korean companies, but the delay in the investigation results has increased uncertainty, making it difficult to push forward with its business plans.
WLD is an iris recognition-based cryptocurrency developed by Sam Altman, the founder of ChatGPT, and has collected iris data from over 6 million people in 40 countries. However, with the growing pressure of global regulations due to concerns over privacy issues, the uncertainty surrounding WLD’s future business direction is increasing.
Meanwhile, the PIPC is also accelerating its efforts in AI policy development and plans to discuss reforms related to the transfer of data abroad by the end of this year. The PIPC is preparing AI Policy Version 2.0, aiming to refine its policies to align with the evolving technological environment following the emergence of generative AI.
