Report by the World Bank: “Over the past few decades, the Republic of Korea has consciously undertaken initiatives to transform its economy into a competitive, data-driven system. The primary objectives of this transition were to stimulate economic growth and job creation, enhance the nation’s capacity to withstand adversities such as the aftermath of COVID-19, and position it favorably to capitalize on emerging technologies, particularly artificial intelligence (AI). The Korean government has endeavored to accomplish these objectives through establishing a dependable digital data infrastructure and a comprehensive set of national data policies. This policy note aims to present a comprehensive synopsis of Korea’s extensive efforts to establish a robust digital data infrastructure and utilize data as a key driver for innovation and economic growth. The note additionally addresses the fundamental elements required to realize these benefits of data, including data policies, data governance, and data infrastructure. Furthermore, the note highlights some key results of Korea’s data policies, including the expansion of public data opening, the development of big data platforms, and the growth of the AI Hub. It also mentions the characteristics and success factors of Korea’s data policy, such as government support and the reorganization of institutional infrastructures. However, it acknowledges that there are still challenges to overcome, such as in data collection and utilization as well as transitioning from a government-led to a market-friendly data policy. The note concludes by providing developing countries and emerging economies with specific insights derived from Korea’s forward-thinking policy making that can assist them in harnessing the potential and benefits of data…(More)”.
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