"Discovering New Businesses with Pseudonymized Data" LG Uplus Participates in Building the 'Digital Life Data Dam'

[Asia Economy Reporter Eunmo Koo] LG Uplus announced on the 24th that it will participate in the construction of the 'Digital Life Data Dam' to proactively respond to the pseudonymized data market and discover new business opportunities.

A data dam is an infrastructure that collects and processes big data for use across various industries, aiming to break down boundaries between different sectors, increase data utilization, and create added value.

The Digital Life Data Dam, a private-led data convergence organization, includes 12 institutions and businesses such as ▲Telecommunications (LG Uplus) ▲Banking (NH Nonghyup Bank) ▲Finance (KB Kookmin Card, Lotte Card, Hana Card) ▲Credit Evaluation (NICE Credit Information) ▲Distribution/Manufacturing (LG Electronics) ▲Metaverse (Vive Company) ▲Public Sector (Korea Data Industry Promotion Agency, Police University) ▲Information Security Technology (Cryptolab) ▲Big Data Consulting (NICE Genie Data).

Through the Digital Life Data Dam, participating companies plan to combine data across various industries including online, offline, and metaverse sectors to launch diverse products such as customer analysis, marketing strategy models, and ESG indices.

The Digital Life Data Dam plans to complete discussions on data utilization items and finish pseudonymization of data within the first half of this year.

Participants will conduct various joint research projects based on pseudonymized data integration, such as "understanding various social phenomena accelerated after COVID-19" and "developing advanced customer strategies based on nano-society consumption phenomena," with plans to apply these to actual business within the year. Additionally, joint research on information protection technologies such as 'synthetic data' and 'homomorphic encryption' will be conducted to ensure the safe use of target data.

LG Uplus will provide data such as service subscription products and models, IPTV viewing data, and indoor/outdoor movement information to the data dam. NICE Genie Data, the secretariat, will support trusted and secure data integration based on privacy protection technologies and perform analysis and consulting tasks based on accumulated know-how from data business.

Jeon Kyung-hye, Head of Data Business Promotion at LG Uplus, said, "LG Uplus will actively participate in the Digital Life Data Dam, which enables the launch of new products and services through pseudonymized data, striving to become a digital innovation company that leads changes in customers' daily lives."