Companies to Benefit from Simplified Document Submission... Expansion of Public MyData Service

Ministry of the Interior and Safety Signs Agreement with 10 Related Agencies
Reducing Corporate Administrative Burdens and Enhancing Operational Efficiency

From now on, not only individuals but also companies will be able to use the "corporate public MyData service" to submit various certificates through a one-stop process. The public MyData service provides administrative information held by administrative and public institutions to the individual or a third party. By simplifying the required documents, companies are expected to see a significant reduction in administrative burdens.

On January 23, the Ministry of the Interior and Safety announced that it would sign a business agreement among major administrative and public institutions currently providing the service to promote the activation of the corporate public MyData service.

The Ministry of the Interior and Safety has decided to reduce administrative burdens on companies by promoting corporate public MyData services. Photo by Yonhap News Agency

The institutions participating in the agreement include the Ministry of Employment and Labor, the Fair Trade Commission, Korea Technology Finance Corporation, Export-Import Bank of Korea, Small Enterprise and Market Service, Korea Institute of Startup & Entrepreneurship Development, Korea Federation of Credit Guarantee Foundations, Bank of Korea, Korea Credit Guarantee Fund, and Korea Credit Information Services. With this measure, the scope of administrative information subjects will expand from "individuals" to "companies." Companies will be able to use public and private services by providing corporate information, without having to obtain and submit the required documents separately.

With this agreement, a close cooperation system will also be established for improving and further developing services for companies. The Ministry of the Interior and Safety has been providing a pilot service to ensure the stable operation of the corporate public MyData service, and officially launched the service in June last year. In 2024, for the first time in the financial sector, the corporate public MyData service was piloted in the corporate loan service of Industrial Bank of Korea to verify its effectiveness.

Since December last year, a dedicated website has been launched to support the use of the corporate public MyData service, allowing companies to view administrative information and provision history, and to send corporate administrative information. When a company representative accesses the web portal using a joint or financial certificate, they can view over 70 types of administrative information in real time, including business registration, tax payment certificates, and standard financial statements. In addition, administrative information required by public and financial institutions can be sent directly to the relevant institution's electronic document wallet, and the provision history can be checked. Furthermore, through the certificate renewal notification function, companies can receive advance text notifications about the expiration of various certificates required for administrative work.

Kim Minjae, Vice Minister of the Ministry of the Interior and Safety, stated, "We will continue to expand corporate public MyData to further simplify the required documents for companies and significantly reduce administrative burdens, thereby creating a more business-friendly environment."