Statistics Korea Activates Transactions Through Data Subscription Platform

[Sejong=Asia Economy Reporter Moon Chaeseok] The Statistics Korea proposed a system that fosters data curators and experts through a platform to activate transactions. It aims not just to increase transaction volume but to transform the system so that transactions can be conducted efficiently in an environment equipped with information protection functions.

On the 6th, the Statistics Development Institute announced in the 4th issue of the 'Data Research Brief (SRI)' that it presented a new data trading platform incorporating functionalities such as homomorphic encryption. Statistics Korea expects this to contribute to the leap of the domestic data industry, which is valued at 19.2736 trillion KRW. The proposal was jointly made by Byun Junseok, head of the SRI Data Economy Center, Dr. Park Minjung of the Development Institute, and Professor Cheon Jeonghee of Seoul National University.

The Center researched ways to activate domestic data trading and utilization while protecting personal information in the study titled 'Research on Building a Subscription Statistics Platform to Activate Data Trading.' As a result, they created an 'innovative data platform' applying homomorphic encryption and differential privacy methodologies that protect personal information. The platform is expected to contribute to building a trading ecosystem through transaction activation as well as fostering data curator companies and experts.

Korea ranked 8th worldwide last year in the field of national digital competitiveness. The Center is striving to develop data economy indicators and accounting methodologies to respond to the emergence of new industries utilizing digital-based technologies. This publication can be viewed in the 'Data Research Brief' menu on the Development Institute’s website. The brief is published quarterly.

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