[Click eStock] "Beneficiaries like Webcash and BusinessOn from Data 3 Act Amendment"

Published 03 Jun.2020 10:31(KST)

[Asia Economy Reporter Hyungsoo Park] An analysis has emerged that data platform companies holding large amounts of data, security companies, and companies engaged in cloud business will benefit from the amendment of the Data 3 Act.

On the 3rd, NH Investment & Securities predicted that companies holding data resources will grow because businesses utilizing data need to purchase data from companies possessing high-quality data.

Sehoon Son, a researcher at NH Investment & Securities, explained, "Domestic data-related policies, which had been focused solely on regulation due to personal information leakage incidents, have laid the foundation for industrial growth through the amendment of the Data 3 Act," adding, "Data is a resource that forms the basis of the 4th Industrial Revolution, including artificial intelligence, big data, and shared services."

He continued, "Market interest in the changes brought by the amendment is intense," and added, "The core of the Data 3 Act amendment is the introduction of pseudonymous information that can be used without the individual's consent and the implementation of the MyData industry."

He emphasized, "The free use of meaningful pseudonymous information, which is more significant than anonymous information, and the introduction of MyData enable the launch of various services such as personalized services."

However, Researcher Son noted, "To prevent personal information leakage, which is considered the greatest risk factor in data transactions, security solutions are essential," and predicted, "As more companies utilize data for business, the demand for security solutions will further increase."

He also forecasted, "Small and medium-sized enterprises aiming to launch new businesses utilizing data will prefer using data through the cloud rather than building their own data centers due to cost constraints."