Minister of Science and ICT: "Platforms Should Not Be Viewed Only as Subjects of Regulation"

Composition of the 'Digital Platform Policy Forum'

[Asia Economy Reporter Koo Eun-mo] "Digital platforms should not be viewed solely as objects of regulation."

On the morning of the 29th, Minister Lim Hye-sook of the Ministry of Science and ICT held a meeting with digital platform companies at the Grand Central in Jung-gu, Seoul, stating this view. She explained that the social contributions and economic and social roles that platforms have undertaken, such as COVID-19 leftover vaccine reservations, should not be overlooked. In particular, Minister Lim's remarks have attracted more attention as next month's National Assembly audit is expected to become a 'platform audit,' with key platform executives, including Kim Beom-su, Chairman of Kakao's Board of Directors, being consecutively summoned as witnesses.

On that day, Minister Lim emphasized, "While minimizing side effects, we must not overlook the social contributions platforms have made so far, such as mask apps, leftover vaccine reservations, QR check-ins, as well as technological innovation through the development of super-large AI, service innovation to enhance public convenience, and the hope for youth entrepreneurship, reflecting the economic and social roles and values of platforms."

She also added, "A cautious approach is necessary when creating new regulations to avoid extinguishing the spark of innovation," and "I hope that through the digital platform company meeting and policy forum, we will closely examine and analyze the situation of Korea's platform industry and lay the foundation for moving toward a sound platform economy."

The corporate meeting held consecutively that day and the 1st plenary session of the Digital Platform Policy Forum were prepared to re-examine the economic and social value of platforms amid ongoing regulation-focused discussions on the side effects of platform companies, and to gather diverse opinions directly from industry representatives to devise ways for the platform ecosystem to develop healthily. Representatives from leading domestic platform companies such as Naver, Kakao, Woowa Brothers (Baedal Minjok), and Yanolja, as well as startup representatives from Law&Company (LawTalk) and Healing Paper (Gangnam Unnie), also participated.

At this meeting, Minister Lim and platform company representatives discussed the social contributions of platforms, such as leftover vaccine reservations. They also discussed regulatory directions to minimize platform side effects and sought ways to secure the competitiveness of domestic platform companies in the global competitive environment.

The 'Digital Platform Policy Forum' will also be established. Its goal is to examine various issues that may arise on platforms and to derive policy directions for problem improvement and innovation creation. Vice Minister Cho Kyung-sik of the Ministry of Science and ICT and Professor Kim Sung-chul of Korea University’s Department of Media Studies will serve as co-chairs.

The forum will be divided into four main subcommittees: platform-based innovation activation (1st subcommittee), institutional improvements for platform competition activation (2nd subcommittee), enhancement of platforms’ social contributions (3rd subcommittee), and resolution of social issues surrounding platforms (4th subcommittee). Detailed discussions will be conducted based on these major themes.

The 1st subcommittee will establish mid- to long-term policy directions for innovation creation and industrial competitiveness enhancement on platforms, including building an ecosystem to promote data-based innovation, securing differentiated capabilities of technology-based innovation platforms, and systematic support for platform startups. The 2nd subcommittee will explore ways to harmonize platform industry innovation with market order and user protection, including flexible regulation based on stakeholder consensus and legislative initiatives that are essential.

The 3rd subcommittee will discuss ways to create a sound digital platform ecosystem by utilizing platform companies’ resources and expertise to solve social problems, supporting digital innovation for small business owners, and helping them develop online sales channels. The 4th subcommittee will address minimizing platform dysfunctions by preparing development guidebooks and verification systems to ensure the reliability of AI-based platforms, establishing guidelines for transparency of search and recommendation algorithms, and measures to bridge the digital divide in platform usage.

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