The Report on Human Rights Situation in the Republic of Korea The right to data portability has the function of creating new types of services based on personal information. For example, if the personal information and financial transaction information owned separately by several financial companies are transferred to a single “data management company” (MyData Company). a new industry can emerge that analyzes the financial status of the data subject, including the credit rating, financial risks, consumption pattern, etc., and provides product or service recommendations that are customized individually.59) Introduction of the right to data portability is under discussion in Korea as well. The [Credit Information Use and Protection Act] (hereinafter referred to as the ‘Credit Information Act’), amended on Feb. 4, 2020, added ‘the right to request the transfer of personal credit information,’ for the credit information administration company, etc. The Financial Services Commission is implementing the vitalization of the ‘MyData Project,’ based on this. On the other hand, the Framework Act on Data, proposed on Dec. 8, 2020 and submitted to the National Assembly Science, Technology, Information, Broadcasting and Communications Committee on Feb. 1, 2021 stipulates the ‘right to data portability,’ and the ‘partial amendment to the Personal Information Protection Act,’ (hereinafter referred to as the ‘Personal Information Protection Law’), advanced the announcement of legislation on Jan. 6, 2021, also stipulates the ‘request to transmit personal information.’ B) Right to Data Portability and Human Rights Violations Some view the introduction of the right to data portability will help vitalize the economy. Also, there are positive aspects in that the right for the data subject’s personal information will increase. The OECD Secretariat pointed to an increased 58) Meaning public agencies, companies, groups, etc. processing the personal information, and same concept as the personal information controller under Korea’s Personal Information Protection Act. 59) Financial Services Commission, “Plan to Introduce MyData Industry for the Financial Sector for ConsumerCentered Financial Innovation”, 2018. 66