A Study on Personal Information Legislation Improvement Plan for Data Economic Regulatory Innovation

With the Fourth Industrial Revolution, where IT technologies such as big data, artificial intelligence (AI), and the Internet of Things (IoT) are becoming common, data is emerging as a key element, and the emerging concept is the "data economy". to be. The data economy refers to an economy in which the use of data affects the development of other businesses and creates new services and products. In particular, the financial sector accumulates a large amount of data for each banking sector such as credit cards, banks, finance and insurance. It is also possible to converge with other industries such as telecommunications and location information, so the current regulations should be relaxed to improve the value of data utilization. Therefore, in order to urgently regulate data privacy and maintain governance related to personal information, I would like to propose a plan for legislation to protect personal information to enhance the competitiveness of the data industry.