Passed the National Assembly... A Bright Future for the Medical and Telecommunications Industries

Medical Information Linkage for Precision Diagnosis and Prescription
Sharing of De-identified Subscriber Information by Telecom Operators
Useful for New Industry Creation and Understanding Customer Demand

On the 9th, the partial amendment bill to the Personal Information Protection Act (alternative) was passed at the plenary session held at the National Assembly.

[Asia Economy Reporters Choi Dae-yeol, Koo Chae-eun] Kim Ho-young (pseudonym), a lung cancer patient, initially saw little progress with the focused chemotherapy. Later, through genetic testing, it was discovered that the lung cancer was caused by a specific gene mutation, and his condition improved after being prescribed targeted anticancer drugs. The discovery of a treatment tailored to a specific gene was possible because big data integrating large-scale patient genomic information, medical records, lifestyle, and human resources was analyzed comprehensively.

◆Data-Driven Precision Diagnosis and Prescription Possible= With the passage of the so-called Data 3 Laws, including amendments to the Personal Information Protection Act, Credit Information Act, and Information and Communications Network Act, various industrial advancements are expected, including groundbreaking achievements in disease treatment like Kim’s case. On the 10th, the medical community anticipated that precision medicine, which goes beyond existing personalized medicine, will have high growth potential following the Data 3 Laws’ passage in the National Assembly.

Precision medicine is a concept that encompasses the entire healthcare industry, including more accurate diagnosis based on various information such as genetic factors, environment, and clinical data, as well as treatment and prevention. In the past, treatments with relatively high probability were applied to all patients, while personalized medicine targets specific individuals. Precision medicine differs in that it can provide medical services not only to individuals but also to many people.

According to market research firm Frost & Sullivan, the global precision medicine market is expected to grow from about $47.5 billion in 2017 to $100.3 billion by 2023. Experts predict that linking information previously scattered across hospitals, medical institutions, or companies will aid future research outcomes, actual diagnosis and treatment technologies, and new drug development. Professor Yoo So-young of Seoul Asan Medical Center said, "The ability to link and utilize medical information that was sporadically held by different institutions through specialized organizations is a system that will help develop medical technologies or new drugs that truly benefit patients in the future."

◆Telecommunications and IT Open New Business Opportunities= The telecommunications industry has also become capable of developing various business models. Mobile carriers hold vast subscriber information, including call records, location, search data, movement paths, application purchases, social network service (SNS) usage patterns, and payment details, but regulations previously prevented sharing such pseudonymized information with other institutions. With the passage of this law, it is expected that vast amounts of de-identified subscriber information will be shared with other businesses to create new industries.

According to the industry, the three major telecom operators held a big data market outlook meeting following the passage of the Data 3 Laws and began preparing future business plans. Telecom operators have accumulated big data industry capabilities over a long period. SK Telecom formed a big data business team in 2013, KT established a big data center in 2014, and LG Uplus created a big data-related team in 2016. A telecom industry official said, "In the future, we can expand business scope with various services combined with 5G in finance and healthcare, and accelerate the artificial intelligence (AI) industry."

For example, driving habit information learned from subscriber smartphone usage records stored on telecom servers can be combined with driving insurance data held by insurance companies to create customized insurance services for users. Even without a loan history, if telecom bill payments are consistent, customized loans with low interest rates may become available. Lee Kyung-sang, head of the Korea Chamber of Commerce and Industry’s Economic Research Headquarters, said, "Developing new business models in new industry fields will not only be important but also greatly help companies quickly understand and respond to customer demand and market trends. Since we are starting later than competitors like the U.S. and China, we hope the government will speed up follow-up work such as revising enforcement decrees on data use and protection."

Professor Kim Seung-joo of Korea University Graduate School of Information Security said, "Although the first step has been taken, standards for specialized institutions handling pseudonymized information are still unclear," adding, "Since communication between civic groups and legal circles emphasizing personal information rights and the science and engineering fields handling information processing technology is not smooth, it is necessary to go through a public discussion process and find a compromise through the government or the 4th Industrial Revolution Committee in the future."

This content was produced with the assistance of AI translation services.