The Korean native platform is in good health… Turn to self-regulation

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Digital Platform Industry Conference
Minister Lee Jong-ho and CEOs in one place
Form a public-private TF to discuss detailed plans

Kakao CEO Nam Goong-hoon (left) and Naver CEO Choi Su-yeon, who met again as their respective presidents, greet each other at a digital platform industry meeting held at the Korea Chamber of Commerce and Industry in Seoul on the 22nd. yunhap news

The government will form a public-private joint task force (TF) to prepare guidelines for related platform business such as data and artificial intelligence (AI) algorithms. The purpose is to reflect the voices of business operators and to focus on self-management.

Minister of Science and ICT Lee Jong-ho met with the CEO of digital platform companies and academic experts at the Korea Chamber of Commerce and Industry in Seoul on the 22nd to discuss these details. The meeting was attended by major platform operators in the search, messenger, and e-commerce fields, including Naver CEO Choi Soo-yeon, Kakao CEO Nam Goong-hoon, and Coupang Coupang CEO Park Dae-joon. Woowa Brothers (CEO Kim Beom-jun), who runs the nation’s largest delivery app ‘Baedal Minjok’, and Carrot Market (co-CEO Kim Jae-hyun), the country’s largest personal trading platform, also made appearances.

According to the Ministry of Science and ICT, participants at the meeting agreed that the focus should be on enhancing the effectiveness of platform policies and related self-regulation. Minister Lee said, “It is necessary to establish a platform regulatory system, but we need to innovatively change the regulatory method to fit each country’s situation.” In other countries, platform services of US-based global big techs such as Google, Facebook, and Instagram are occupying the market, but in the domestic market, it is explained that the ‘native’ platform is in good health.

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On the same day, CEO Namgoong said on his Facebook page right after the meeting, “I said that the metaverse area resembles a game in technical form and appearance, but it should be clearly differentiated from the game from a policy point of view.” Co-CEO Park Dae-joon said, “We expect that the value of enhancing consumer welfare and industrial promotion will be fully considered during the discussion process.”

The government plans to form a government-wide digital platform policy council to form a self-regulatory body for the platform industry. In this consultative body, the legal basis for the establishment of a platform industry self-regulatory organization will be prepared. We plan to prepare a TF for each industry to discuss each issue.

Correspondent Hankyul Seon always@hankyung.com

ⓒ Hankyung.com, unauthorized reprinting and redistribution prohibited

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