Comes in to effect today. The personal information protection law, has more teeth than other data laws in other countries, and its set to have wide reaching implications for how firms handle cross border data. How businesses use our data, where its stored and how its protected is a major concern for individuals and governments. China is now laying out the most severe penalties for firms who transfer key data overseas without proper authorisation from the chinese government, and could even blacklist firms to stop them gaining access to data from chinese citizens. Joining me now is suzanne rab, barrister, serle court chambers. Lovely to see you. Talk lovely to see you. Talk us lovely to see you. Talk us through this new law in china. How will it work and how will it impact businesses outside china s it impact businesses outside china . ,. , it impact businesses outside china . , it impact businesses outside china . , , china s good morning, sally. International china s good mornin
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prices have been rocketing in china. is that suddenly we should be concerned about? rico hizon will make sense of that for you in a moment. but we start in seoul, where the trial of the century is getting started. the head of the biggest company, samsung, is on trialfor bribery. samsung might be a household name, globally, but his bossis household name, globally, but his boss is not. so what we know about him? he is the boss of the company, jay y lee, but is known by south korean media as the crown prince of samsung . that is because he is the only son of the chairman, lee kun hee, who was convicted of bribery and tax evasion himself, but was pardoned. so jay y lee has been in charge since his father had a heart attack in 2014. he has been the de facto boss. so the lee family are phenomenally wealthy. you can see the figure behind me. forbes magazine ranking them asia s richest family last yearfor magazine ranking them asia s richest family last year for the second year ina
Getir grew rapidly during the COVID-19 pandemic, attracting high-profile investors and reaching a valuation of $12 billion two years ago as it established operations across Western Europe and in New York and Chicago.