[2022 Asia Financial Forum] CEO Woo Byung-hyun "Industry Landscape Will Change Following MyData Business"

Woo Byung-hyun, CEO of Asia Economy, is delivering the opening speech at the 11th 2022 Seoul Asia Financial Forum hosted by Asia Economy at the Westin Chosun Hotel in Jung-gu, Seoul on the 26th. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Changhwan Lee] "Data is the second oil of the digital age; without proper utilization, survival becomes difficult."

Woo Byunghyun, CEO of Asia Economy, stated in his opening remarks at the 11th Seoul Asia Financial Forum hosted by Asia Economy on the 26th, "Data is likened to the 'second oil' in the digital era," emphasizing its growing importance.

This forum was held under the theme "MyData for All ? Focusing on Overseas Success Cases."

CEO Woo explained, "Whether a company or an individual, if digital data is not collected and used smartly, it is difficult to survive in fierce competition," adding, "The reason we chose 'MyData' as this forum's theme is that the full-fledged MyData era began in Korea starting January this year."

He emphasized, "Although Korea's introduction of MyData was somewhat later than overseas, by being the first in the world to apply the Application Programming Interface (API) method to MyData, it created an opportunity to overcome the disadvantages of being a latecomer at once."

He continued, "Since its introduction in January this year, the cumulative number of subscribers has exceeded 24 million in just three months, showing active consumer response," adding, "Many sectors including finance, telecommunications, fintech, and healthcare are actively investing in MyData."

CEO Woo said, "Depending on how the MyData business develops in the future, the landscape of related domestic industries will change significantly," and expressed hope that "the knowledge and insights of domestic and international experts prepared by Asia Economy at this forum will be widely shared."

▶2022 Seoul Asia Financial Forum YouTube Live Broadcast [Korean]

▶2022 Seoul Asia Financial Forum YouTube Live Broadcast [English]

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