Viva Republica, the operator of Toss, said on Tuesday that its financial management think tank, Toss Insight, published a second report on MyData titled "The current status of the MyData business and suggestions for its development".

The report said the MyData business is increasing burdens on operators because of high system build costs and an unclear profit structure. It also noted that data transfer obligations have expanded, but compensation systems to support them and structures to sustain the business are not sufficiently in place.

It recommended that MyData policy move away from an obligation-driven design and gradually shift toward a direction in which participating entities can take part voluntarily. It listed key tasks including compensation based on data-use outcomes, improving API cost structures and policy design in which the public and private sectors share results.

The report also covered the status of non-financial MyData, which is expanding into areas including healthcare, telecommunications, mobility and the public sector. It analysed that while an institutional foundation has been 마련된 in the non-financial domain, it remains at an early stage in standardisation and business models, requiring additional policy adjustments.

Toss Insight emphasised that MyData should not remain a system that merely moves data, but should develop into a structure that provides tangible benefits to individuals and sustainable revenue for operators. It recommended that service upgrades centred on data use and policy support be carried out together to achieve that.

Hong Ki-hoon (홍기훈), head of research at Toss Insight, said, "This report is a study that organises the realistic issues the MyData system has faced in the field and examines the direction needed for the industry to continue." He added, "We hope it will serve as reference material for MyData to go beyond the system and lead to actual data use and innovation."