South Korea's Financial Services Commission (FSC) finalized a 7 billion won ($5.2 million) fine against Tongyang Life Insurance for Credit Information Act violations, reducing the Financial Supervisory Service's (FSS) proposed 140 billion won ($104.6 million) penalty by about 95%. A 2022 FSS examination found that Tongyang Life transferred customers' personal credit information to its subsidiary general agency without consent. The FSC determined that the transfer was business delegation related to insurance sales rather than illegal provision to a general third party, while also citing the limited scale of the leak, non-fine-eligible conduct and proportionality. The case has intensified criticism of the Act's revenue-based fine structure and the disclosure of unconfirmed sanctions. Authorities are reviewing reforms as similar cases involving Shinhan Life and Lina Life Insurance remain pending.