Korea Ranks 40th Among 64 Countries in Data Analysis and Utilization Competency
[Asia Economy Reporter Jang Sehee] Kim Yong-beom, the 1st Vice Minister of the Ministry of Economy and Finance, stated on the 21st, "We will faithfully incorporate the purpose of the amendment to the Data 3 Act by revising the enforcement decree and enforcement rules."
On the same day, Vice Minister Kim held the 2nd meeting of the Pan-Government Data Economy Activation Task Force (TF) at the Government Complex Sejong and said, "It is important to resolve the legal uncertainties in the industry field and create an environment where data can be integrated."
The meeting was attended by Jang Seok-young, the co-support team leader and 2nd Vice Minister of the Ministry of Science and ICT, as well as directors from 13 related ministries including the Ministry of the Interior and Safety, Financial Services Commission, Fair Trade Commission, and Statistics Korea.
Vice Minister Kim added, "When revising subordinate statutes, we will clearly present standards regarding the scope of pseudonymized information use for scientific research and statistics, as well as data integration and linkage," emphasizing, "We must also promptly advance the maintenance of related laws affected by the Data 3 Act."
He also announced plans to build infrastructure for data opening and connection while strengthening personal information protection.
He said, "It is necessary to consider how to create incentives for data utilization so that the public can directly experience the benefits of safely using data," analyzing, "Providing benefits such as insurance premium discounts or medical expense reductions instead of individual data usage consent could promote data utilization."
Furthermore, he mentioned, "Major countries worldwide, such as the United States and China, fully open highly usable data and ensure safe data utilization," adding, "They are securing future growth engines."
He continued, "The current amendment to the Data 3 Act will be a turning point that can significantly boost South Korea's data economy competitiveness, which is currently in crisis," and added, "If public data opening is expanded and public and private data are well connected, future new industry competitiveness can be secured."
Meanwhile, in a survey released by the International Institute for Management Development, South Korea ranked 40th out of 64 countries in data analysis and utilization capabilities.
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