Lee Jong-ho, Minister of Science and ICT, discussed the direction of platform policy with experts and CEOs of digital platform companies at the Korea Chamber of Commerce and Industry in Seoul today (June 22).

Naver CEO Choi Soo-yeon, Kakao CEO Nam Goong-hoon, Coupang Co-Chief Executive Officer Park Dae-jun, Woowa Brothers CEO Kim Beom-Joon, Carrot Market Co-Chief Executive Officer Kim Jae-Hyun, Korea Internet Corporations Association Chairman Park Seong-ho, Seoul National University vice president for planning and communication Lee Won-Woo, and Konkuk University Professor Kwon Nam-hoon attended the meeting.

Minister Lee Jong-ho said, "As the influence of the platform in society increases, it is bound to cause problems which requires a regulatory system. Platform policies should be promoted differently depending on the situation facing each country, and considering the increasingly fierce global platform market, policies must encompass the values of innovation and fairness, and approach to regulations must be innovative."

At the meeting, some voiced their opinions that it was necessary to form and operate a private-led self-regulatory body. The Ministry of Science and ICT also agreed that legal grounds should be laid for the establishment and support for private self-regulatory bodies. In addition, the Ministry of Science and ICT said it will actively support data and AI-related public-private partnership taskforces.

Within this year, we plan to prepare a "digital platform development strategy (tentative name)" involving the Ministry of Science and Technology, companies, and experts to encompass the values of innovation and fairness.

Choi Soo-yeon, CEO of Naver, said, "The government welcomes discussing self-regulation measures with platform companies and will gather wisdom together for a healthy digital ecosystem going forward."

Nam Goong-hoon, CEO of Kakao, called for the government's interest and support for the advancement of the self-regulation system implemented by the Internet industry and said, "We will actively participate in related discussions in the future." After the meeting, CEO said on Facebook, "The emerging metaverse sector resembles gaming in its technical form and appearance, but it should be clearly distinguished from gaming in the policy area."

Source: Pangyo Techno Valley Official Newsroom