On June 23, the Ministry of the Interior and Safety signed a memorandum of understanding with 10 major administrative and public agencies, including the Ministry of Employment and Labor and the Fair Trade Commission, at The Plaza Hotel in Seoul. This agreement aims to reduce the burden of submitting required documents for companies using various administrative and financial services and to expand the scope of the Corporate Public MyData Service. Vice Minister Kim Min-jae attended the signing ceremony, reaffirming the commitment to inter-agency cooperation. This initiative is expected to significantly enhance the digital administrative environment for businesses.
The participating agencies include the Ministry of Employment and Labor, Fair Trade Commission, Korea Technology Finance Corporation, Export-Import Bank of Korea, Small Enterprise and Market Service, Korea Startup Promotion Agency, Korea Federation of Credit Guarantee Foundations, Bank of Korea, Korea Credit Guarantee Fund, and Korea Credit Information Services. The Corporate Public MyData Service was officially launched in June 2023 after a pilot project, and in 2024, it was piloted in the corporate loan service of the Industrial Bank of Korea to verify its effectiveness. Since last year, the service has been applied in the public sector for the first time by the Fair Trade Commission and Korea Technology Finance Corporation, with usage steadily increasing. In December 2023, a dedicated website (mydata.go.kr) was launched to improve accessibility.
Corporate representatives can access over 70 types of administrative documents, such as business registration certificates, tax payment certificates, and standard financial statements, in real time using joint or financial authentication on the website. Required information can be sent directly to public or financial institutions’ electronic document wallets, and users can track their information provision history. The service also offers certificate renewal notifications via text message, enhancing administrative management convenience. Additionally, companies can use AI-based management diagnosis services, such as financial and sales analysis, for free through integration with the Korea Credit Guarantee Fund’s corporate credit evaluation system.
The Ministry plans to establish a rapid and close collaboration system for improving and developing new services for companies based on this agreement. Vice Minister Kim emphasized the continued expansion of the Corporate Public MyData Service to simplify document submissions and significantly reduce administrative burdens, creating a more business-friendly environment. At the signing ceremony, government awards and ministerial commendations were presented to agencies and individuals who contributed to the activation of public MyData. The digital transformation and administrative innovation for businesses are expected to accelerate further.
The expansion of the Corporate Public MyData Service is a leading example of digital administrative innovation, effectively reducing the administrative burden on companies. Inter-agency data integration and AI-powered management diagnostics will enhance corporate efficiency and transparency. This digital service is poised to play a crucial role in supporting SME growth and strengthening national competitiveness.