Cloud partner for successful conversion to My Data System (featuring MyData demonstration support project)
Greetings, this is Naver Cloud Platform.
This post was prepared as a topic of interest to the companies considering the application for the MyData demonstration support project hosted by the Ministry of Science and ICT and the Korea Data Agency.
Let’s take a look at what the MyData demonstration support project is, how to prepare for it from an infrastructure perspective, and how to utilize the cloud.
Before we get started…
With the passing of the revisions of 3 data acts* in January, many changes have been taking place in industries such as FinTech.
* 3 data acts: Personal Information Protection Act, Credit Information Use and Protection Act, and Act on Promotion of Information and Communications Network Utilization and Information Protection
The current Personal Information Protection Act focuses on the protection and safe management of personal information. The problem is that, due to this regulatory system, the right to self-determination and movement of personal information were difficult to actively utilize. To overcome these operational inefficiencies and create more value through data, new revisions were needed to be in tune with the era of the 4th Industrial Revolution.
The government’s MyData demonstration support project contest also began with this background situation in mind.
What is the MyData demonstration support project?
“MyData” means that if an individual, who is an information subject, requests the company to open his/her data based on the “Right to data portability,” the corresponding company has to open the data to the individual or the third party designated by the individual. That is, if you want to show your data to other companies, you request the company holding your data to open it to solve the issue.
In other words, this MyData demonstration support project actively supports the development of its own platform service that can integrate, manage, and utilize distributed data centering on individuals and then provide it for these approved 3rd parties. The purpose of this project is to create a safe and reliable information subject-oriented individual data integration and utilization foundation so that individuals can gain practical control over their data. Various entities can also develop innovative services that utilize personal information.
The true extent of this innovation can’t be understood just from reading this article. When the platform is built through the MyData business, it can realize a lot of convenience in our real lives, particularly with the use of financial services. Up until now, your data in the financial services that you’re using have been distributed to various companies, but when MyData is activated, you can easily manage your information. It is expected that the company-oriented service system will be converted to a customer-oriented one, so that financial services products that are perfect for individuals can be used.
Moreover, it is possible for companies to try new businesses and to operate more transparent data. As data is an asset in the 21st century, securing a lot of customer data is an important factor for success. It is expected that companies starting new businesses through MyData will also be able to compete on equal footing with existing companies since they’ll have the opportunity to secure sufficient data.
If so, what about at the national level? It can resolve data and information imbalance between companies and consumers by inducing transparent operation of data. It can also create a stepping stone that provides innovative service development opportunities for startups and fintech companies.
What are the requirements and preferential conditions for business selection?
This MyData demonstration support project has a total budget of 8 billion won and provides funding of up to 1 billion won per project. Many companies wanting to create new business opportunities with MyData are expected to participate. The general rule is that when applying for a contest, a consortium should be formed with the main body operating the MyData platform as the host organization. Thus, it is also important to decide which platform to form the consortium with.
As it is a data-related business, cloud services that are capable of flexible infrastructure management from a platform operation perspective are attracting attention. Moreover, since it is a business that deals with personal data, the most stable and reliable cloud would be best. The government also considers clouds that meet all of the following criteria as a priority.
[Key application requirements for the MyData demonstration support project]
1. Personal information leakage compensation liability insurance
2. Public cloud certification
3. ISO 27001 certification
If so, does NBP’s Naver Cloud Platform meet all of these standards? The answer to this question is yes. Since Naver Cloud Platform meets all three criteria, it meets the optimal requirements as a project business partner. It’s also better to offer extra benefits that score more points in addition to the application requirements, isn’t it? If you prepare for the project with the Naver Cloud Platform, you can earn a minimum of two extra points by meeting two conditions.
[Extra point items for the MyData demonstration support project]
1. Submission of domestic and foreign information security certificates
2. Utilization of the cloud obtained the Cloud Security Assurance Program (CSAP)
Requirements, preferential conditions, and the last thing to check: What type of capabilities does the cloud have?
It’s necessary to decide specific details for the project through the requirements and preferential conditions, but the most important thing is to select a company that can be a reliable partner. This partner should be able to safely operate the service without issues in the implementation of tasks, even after being selecting as the supported company.
When choosing a cloud platform, companies should prioritize whether or not they will be able to safely handle people’s valuable personal data. That is because the responsibility of asking companies and their cloud platform services in the event of a security incident, such as personal information leakage, is greater than ever since the value of personal information has gradually increased.
The cloud platform that handles data should be reliable and safe.
The Naver Cloud Platform is a representative cloud company in Korea, and it has the capability to protect the data of the Korean people more securely and effectively. It has been making the most aggressive investments in security among cloud service providers.
The Naver Cloud Platform, which fully meets the government’s strict security regulations for data, has proven through several certifications that it can safely handle public, financial, and medical information. It was the first company in Korea to acquire the Gold level in CSA STAR, the world’s best security certification.
[NEWS] Naver Cloud Platform acquires CSA STAR Gold rating for the first time in the domestic cloud industry!
Moreover, the Naver Cloud Platform has the capability to understand the service characteristics of each company and to provide close support throughout the entire business operation. Did you know that the cyber learning system recently launched by the Korea Education and Research Information Service (KERIS) for online schools was operated through the Naver Business Platform?
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The Naver Cloud Platform has established an cyber learning classroom, an online lecture platform, in cooperation with KERIS so that public education will not stop despite the threat of COVID-19. To realize a service that can accommodate up to 3 million concurrent users, all employees have been doing their best, and a separate dedicated TF with 50 development/security/operation experts has been formed to continue monitoring 24/7.
If you need help with the MyData demonstration support project, from an infrastructure point of view, please feel free to contact us.
Naver Cloud Platform is working together to make a successful transition to the MyData system.
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