'Data 3 Acts' Passed by National Assembly... Boosting Personal Information Utilization

[Image source=Yonhap News]

[Asia Economy Reporter Oh Hyung-gil] The "Data 3 Acts," which aim to revitalize the industry that collects personal information and utilizes it as big data, have passed the National Assembly.

On the afternoon of the 9th, the National Assembly passed the amendments to the Personal Information Protection Act, the Information and Communications Network Act, and the Credit Information Act during the plenary session.

These bills had passed the standing committee in December last year, but due to intense political conflicts over budget approval and fast-track bills, they were stalled in the Legislation and Judiciary Committee for over a month.

The Personal Information Protection Act introduced the concept of pseudonymous information to prevent concerns about personal information leakage. The supervisory body overseeing misuse and leakage of personal information is the Personal Information Protection Commission.

The Credit Information Act clarified the legal basis for big data analysis and use in the financial sector, allowing pseudonymous information to be utilized in finance and related fields.

The Information and Communications Network Act unified laws related to personal information protection to improve the efficiency of data usage. Provisions related to personal information protection were transferred to the Personal Information Protection Act.