Lee Jae-myung: "Large Corporations Gain Massive Profits from Personal Production Data... Individuals Receive No Compensation"

Gyeonggi Province Governor Lee Jae-myung is delivering the opening address at the Data Sovereignty International Forum held online on the 8th.

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Lee Jae-myung, Governor of Gyeonggi Province, emphasized the need to create a digital virtuous cycle ecosystem that returns benefits to individuals, the producers of data, stating that while giant tech companies earn enormous profits by utilizing data produced by individuals, the individuals themselves receive no compensation.

In his opening remarks at the '2021 Data Sovereignty International Forum' hosted online by Gyeonggi Province on the 8th, Governor Lee explained, "Data accumulated from information such as who moves where and when, who buys what and how much, can be used to analyze traffic volume and calculate economic effects, making it extremely valuable information," adding, "That is why data is sometimes called the rice of the digital age."

He continued, "The economic and social value of data will increase even more in the future, and giant tech companies will earn greater profits by utilizing data produced by individuals," but pointed out, "However, we individuals, who are the producers and owners of data, receive no compensation."

He further stated, "Gyeonggi Province dreams of a fair world where no one is left out, rights are equally guaranteed, and benefits are reasonably shared according to contributions," emphasizing, "Now, to ensure the sustainable development of the data economy, we must create a data virtuous cycle ecosystem. Future benefits should be returned not only to companies but also to the data producers."

This event was organized under the slogan 'My Data, My Right' to secure rights over personal data and raise awareness about data sovereignty in the era of the data economy.

Sir Tim Berners-Lee, the founder of the World Wide Web (www), who delivered the keynote speech, introduced the 'SOLID project' he is leading, stating, "The current internet, where personal information is seriously misused and abused, needs to be improved so that individuals can gain more control over their data and use it more diversely."

The SOLID project is a service that develops a new internet platform called 'Solid' to innovate the current internet structure monopolized by giant IT companies and return data sovereignty to individuals.

It redesigns the way data is stored and shared, and how individuals and organizations manage and interact with data. On the Solid platform, instead of a few companies accumulating and controlling personal information, individuals can accumulate, own, and control their own information, which is expected to increase personal authority in internet usage.

Sir Tim Berners-Lee said, "The person who should gain the greatest value from personal data is the individual themselves," and added, "I am very pleased to learn about Gyeonggi Province's efforts toward data sovereignty. It is important to carefully and prudently design a new world to prevent negative phenomena and maximize economic and human values."

In the afternoon session, speakers included ▲ Park Joo-seok, CEO of MyData Korea Hub (on the necessity and expected effects of data sovereignty restoration) ▲ Katryna Dow, Director of MyData Global and CEO of Meeco (on the MyData operator model for securing data sovereignty) ▲ Viivi L?hteenoja, Senior Advisor of MyData Global (on the global civic movement for data sovereignty restoration).

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