Mandatory 'Data Basic Plan Establishment' Law Passed by National Assembly

Speaker Park Byeong-seok is presiding over the plenary session held at the National Assembly on the 28th. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Jeon Jin-young] The so-called 'Data Basic Act' bill, which mandates the government to establish a basic plan for data industry promotion, passed the National Assembly plenary session on the 28th.

The Basic Act on Data Industry Promotion and Utilization (hereinafter referred to as the Data Basic Act) contains provisions to establish an institutional foundation for the development of the data industry to promote the production, transaction, and utilization of private data.

The bill requires the government to formulate a basic plan for industry promotion every three years in consultation with heads of related administrative agencies to create a foundation for the data industry.

It also stipulates the establishment of a Data Dispute Mediation Committee to mediate disputes related to data production, transaction, and utilization.