[Asia Economy Reporter Kim Heung-soon] On the 12th, the Personal Information Protection Commission held a 'MyData-related Policy Meeting' at the Government Seoul Office and listened to opinions from academia and related associations regarding the Personal Credit Information Management Business (MyData).
The meeting was attended by five key executives from major e-commerce and consumer associations, including Professor Yoo Byung-joon of Seoul National University, Choi Sung-jin, CEO of Korea Startup Forum, and Jung Ji-yeon, Secretary General of the Korea Consumer Federation, as well as the Director of the Financial Data Policy Division of the Financial Services Commission.
Professor Yoo Byung-joon presented on major issues related to MyData, offering opinions on the direction the MyData business should take and on regulatory improvements related to data analysis.
CEO Choi Sung-jin stated, "Recognizing general commercial transaction information such as order history information as credit information subject to MyData transmission does not conform to the legal system and places a burden on the e-commerce industry."
All attendees said, "There are various opinions regarding the scope of application of the Credit Information Act related to the recent MyData business," and requested that the Personal Information Protection Commission, as the personal information control tower, conduct integrated policy coordination.
Choi Young-jin, Vice Chairman of the Personal Information Protection Commission, said, "It is necessary to establish a balanced system related to order history information to realize the information sovereignty of data subjects and prevent concerns about privacy infringement," adding, "We will actively consult with the Financial Services Commission after internal discussions within the Personal Information Protection Commission regarding the opinions gathered through the meeting."
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