Priority of challenges for activation of my data business: K - MyData case

Jeong Kwan Park, Soo Kyung Park, Bong Gyou Lee

Research output: Contribution to journalArticlepeer-review

Abstract

This paper identifies challenging factors that hinder the successful settlement of the MyData industry, which is drawing global attention, and it analyzes the priority of solutions. To this end, a mixed-methodology including analytic network process technique was borrowed step-by-step to identify variables, analyze them, and provide interpretations. From the first step, the study found that the market aspect was the most important for the success of the K-MyData business, and the release of interesting representative services was found to be the easiest way to inspire market growth. From the second step, as a socio-cultural issue, the lack of consensus on data provisioning was found to present a major obstacle. To achieve consensus, it is very important for business participants to gain the trust of consumers. From the third step, it was found that the scope of data collection and responsibility for accidents needs to be clarified. Government and business-related persons must observe the principles of MyData while tackling these obstacles. It is also necessary for the government to be sensitive to changes in the environment as a focal actor. Doing so will lead to data industry activation and will help guarantee of rights of data subjects in a balanced manner. Finally, it is notable that technical barriers now have the lowest priority. Although technology is important, MyData business must also overcome market, socio-cultural, and institutional challenges. The study selected Korea as its research target, but it is expected to provide useful insights to other countries that are planning MyData business similar to Korea.

Original languageEnglish
Pages (from-to)3513-3533
Number of pages21
JournalKSII Transactions on Internet and Information Systems
Volume15
Issue number10
DOIs
Publication statusPublished - 2021 Oct 31

Bibliographical note

Publisher Copyright:
© 2021 Korean Society for Internet Information. All rights reserved.

All Science Journal Classification (ASJC) codes

  • Information Systems
  • Computer Networks and Communications

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