A year has passed since President Moon Jae-in has launched the commission to set vision on the Fourth Industrial Revolution, but it has yet to include blockchain and cryptocurrency as its agenda.
Early this month, the commission held its fourth meeting. It loosened the tough rule prohibiting the use of private personal information in big data analysis. It classified personal data into three categories—real-name data, false-name data, and anonymous data. Except for real-name personal data, companies, public organizations and academic institutes can use the other two types of information for big data analysis.
The commission will recommend that the National Assembly loosen the Privacy Law. So far, many research institutes and marketing companies have complained they cannot analyze the personal behaviors of consumers due to the tight ban on personal information.
The commission also recommended that the government train 50,000 big data analysts for the next five years to 2022. Many futurists say big data analysis is ‘crude oil’ in the Fourth Industrial Revolution age. The panel has also decided to ease rules on drones. Under the relaxed rules, operators will fly drones and make aerial photographing more easily. The government will reclassify drones by function and risk difference, away from the current rule classifying drones by weight.
Despite the progress in softening rules on big data analysis and drone operations, the commission did not set blockchain and cryptocurrency as its agenda.
The commission also could not discuss ways of loosening car-sharing services as taxi drivers sabotage the plan. Unlike other countries, Uber cannot do its business.
Leaders of hotels, motels, and ins also oppose home sharing, which tourists worldwide use. Foreign travelers cannot use private homes in South Korea because it is illegal in Korea for unlicensed operators to rent all or part of their homes to travelers. Global accommodations leader Airbnb is struggling in doing business due to the strict rules.
It may be premature to expect the commission to provide a quick solution to the Fourth Industrial Revolution. However, many analysts said President Moon should chair the meeting to accelerate the deregulation so that Korean companies can better prepare for the new industrial revolution.
