On August 31st, Moon Jae-In, the South Korean president, announced that he will increase the data industry through regulation innovation. To expand available data in terms of quantity and quality, he is going to invest $8 million (8 billion won) into constructing Big Data Center by area. Also, he is planning to invest $16.9 billion (1.95 billion won) in establishing entire data for A.I. learning. He also announced that he is planning to match about 500 companies that specialize in big data analysis to small businesses so that they can utilize accumulated data.

▲ Moon Jae-In speeches at Pangyo Startup Camp.

The Ministry of Science and Communication, the Korea Communication Commission, the Ministry of Public Administration and Security, and the Financial Services Commission held a joint field visit for data economic revitalization and innovation at the Pangyo Startup Camp on the 31st and discussed regulatory innovation and promotion measures. Moon Jae-In said that the Republic of Korea is now best dealt with the Internet in countries where data should be best and stressed the importance of efforts to better protect the privacy and other personal information of the people.

▲ The Pangyo Startup Camp

Moon Jae-In also took part in the booth which the company used big data for their business. The president also experienced a service that provides consulting on beauty products by analyzing big data using face recognition technology. The result was that the president's face age is sixty, same as the real age. Next, the mayor of Sung Nam, En Su-Mi got thirty, but the real age was fifty.

▲ Moon Jae-In`s result was sixty

09-16-2018 by Bak Jeong-Heon