South KoreaMy credit information is recorded incorrectly. Can I?
Yes, you can request correction of incorrect credit information from the credit information company under South Korea’s Credit Information Act.
What the Law Says
South Korean law gives consumers the right to correct inaccurate credit information held by credit information companies. The Credit Information Act sets out clear procedures and timelines for correction requests.
Under the Credit Information Act, if you find that your credit information is inaccurate, incomplete, or outdated, you have the legal right to request correction from the credit information company.
The credit information company must investigate your request and respond within 30 days. If the information is confirmed to be incorrect, they must correct it without delay and notify relevant parties.
You may submit a correction request free of charge. You are also entitled to receive one free credit report per year from each credit information company.
Statutory TextWhere a credit information company receives a request for correction of credit information from an individual, it shall investigate the matter without delay and notify the individual of the result within thirty days.
— Credit Information Act, s. 32 — Correction of Credit Information
Statutory TextCredit information shall be retained only for the period necessary to achieve the purpose for which it was collected, and in any case, no longer than five years from the date on which the information became obsolete.
— Credit Information Act, s. 29 — Retention Period of Credit Information
Statutory TextAn individual may request a credit report from a credit information company once per year free of charge.
— Credit Information Act, s. 31 — Right to Access Credit Information
What to Do
Obtain your current credit report (free once per year via KCB or KICIS websites)
Identify the inaccurate item(s) and gather supporting documents (e.g., repayment receipts, court orders)
Submit a written correction request to the relevant credit information company (KCB or KICIS)
The company must respond within 30 days — if denied, you may file an appeal with the Financial Services Commission
Sources
Not legal advice. This article is general information based on publicly available sources, written for educational purposes. Laws change and individual situations vary. Consult a licensed attorney in your jurisdiction before acting on anything you read here. Last reviewed: 2026-06-08.