Park Young-sun, minister of SMEs and Startups, Thursday renewed calls for easing the existing rules on the protection of private personal data.
She emphasized the importance of the government’s regulation-free special business districts. However, she said South Korea could not see the blossoming of the emerging technologies unless the government eases the existing tight rules on private information.
The port city of Busan would become the nation’s first blockchain business district. Sejong City would become a special zone for running driverless cars. The Gangwon Province and the Taegu City would become special zones for testing online-based medical services.
However, she said unless Korea changes rules on private personal information, South Korea could not move an inch in developing the emerging technologies.
She made the remarks Thursday in a meeting at the Sejong Convention Center to screen applications for establishing regulation-free special business districts
Park is the only South Korean Cabinet minister for blockchain and cryptocurrency.
She said Thursday that South Korea needs bold steps to remove regulations and streamline systems for the emerging technologies.
She said Facebook would seek to become a game-changer in financial services through its Libra cryptocurrency. Japan revised laws to provide a legal framework for cryptocurrencies. Kakao and Samsung plan to open blockchain platforms.
