Chairman Go Seung-beom: "MyData Information Scope Should Be Expanded"

[Image source=Yonhap News]

[Asia Economy Reporter Song Hwajeong] Ko Seung-beom, Chairman of the Financial Services Commission, stated that for the enhancement of consumer benefits, various information should be opened and shared under the principle of reciprocity among participants in the MyData industry.

On the 3rd, Chairman Ko held a meeting with data experts, major MyData operators, and related organizations, expressing this view. He presented three core tasks for the sustainable development of MyData: ▲Data Expansion ▲Consumer Trust ▲Service Innovation. Chairman Ko emphasized, "The scope of information provided in MyData services must be continuously expanded," adding, "To enhance consumer benefits, it is essential that various information be opened and shared under the principle of reciprocity among participants in the MyData industry." He further stated, "In line with the era of hyper-connectivity and hyper-convergence, services should expand beyond financial sector information to include non-financial fields such as big tech and healthcare," and added, "We expect innovative convergence services to be created through the provision of information from even more diverse fields."

Along with this, Chairman Ko also stressed the importance of information protection and security, as well as the need for continuous service innovation. He said, "Businesses that quickly adapt to changes and provide convenient and innovative killer contents will ultimately be chosen by consumers," and added, "To this end, the government will also create an environment that allows MyData operators to focus more on developing innovative content rather than marketing."

Participants in the meeting evaluated that since the launch of the MyData industry, the number of data transmissions has significantly increased, playing an important role in promoting innovation in the financial industry and realizing comprehensive financial platforms. They also expressed opinions that for consumer benefits such as personalized service provision to continue improving through the development of the MyData industry, the scope of information provision should be expanded not only in finance but also in various non-financial sectors such as big tech, healthcare, and public sectors.

The meeting was attended by Chairman Ko, Park Min-woo, Head of the Financial Innovation Planning Group, Lee Chan-woo, Senior Deputy Governor of the Financial Supervisory Service, among others. MyData operators included Lee Jae-geun, CEO of Kookmin Bank; Kwon Kwang-seok, CEO of Woori Bank; Lim Young-jin, CEO of Shinhan Card; Hwang Hyun-soon, CEO of Kiwoom Securities; Kim Tae-hoon, CEO of BankSalad; and Kwon Young-tak, CEO of Fink. Experts included Professor Jung Soon-seop of Seoul National University, Seo Jeong-ho, Deputy Director of the Korea Institute of Finance, and Ko Hwang-gyeong, lawyer at the law firm Gwangjang. Related organizations were represented by Shin Hyun-jun, President of the Credit Information Center; Kim Cheol-ung, President of the Financial Security Institute; Kim Hak-soo, President of the Korea Financial Telecommunications & Clearings Institute; and Hong Woo-sun, CEO of Koscom.

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