Yong-jun Yeo, Gounee Yang

Global Economic News

THE South Korean Government plans to invest 20.9 trillion won (US$170 million) in the so-called D.N.A. (data, network, and artificial intelligence) sectors over the next three years, it has announced.

The government will set up a state committee on data policy in line with the implementation of the related plans next month. It will also apply a regulatory sandbox to the mobility and bio-health sectors to support their development.

The government held a meeting Friday to discuss the D.N.A. industries’ development. It will establish the committee on public and private data management in line with the next month’s implementation of the data industry act.

The South Korean Government will also enact new rules and enforcement decree for the data industry, and will also prepare follow-up measures, including establishment of new systems such as data business registration and valuation.

In order to establish an integrated digital platform, the government will connect national knowledge information resources in various fields such as science, study, and culture.

It will support standardization of data formats and transmission methods between different industries.