On July 17, 2024, the 3rd China-Korea Competition Law Frontier Forum and the 4th Economic Law Forum of Nankai University, hosted by the Law School of Nankai University and supported by Tasly Group, Dentons and IP Frontier Omnimedia Platform, were held in Tianjin. Focusing on the theme of "Challenges and Responses to the Regulation of Digital Platforms in China and South Korea", nearly 30 scholars and experts from China and South Korea conducted in-depth discussions on hot issues such as the regulatory dynamics of digital platforms in China and South Korea, the cases of competition regulation of digital platform behavior, and the privacy protection and competition promotion in the field of platform economy.
PROFESSOR CHEN BING, DIRECTOR OF THE COMPETITION LAW RESEARCH CENTER OF NANKAI UNIVERSITY, PROFESSOR SONG HUALIN, DEAN OF THE LAW SCHOOL OF NANKAI UNIVERSITY, PROFESSOR LEE BONGEUI, DIRECTOR OF THE COMPETITION LAW CENTER OF SEOUL NATIONAL UNIVERSITY, PROFESSOR LIU JIFENG, VICE DEAN OF THE SCHOOL OF CIVIL, COMMERCIAL AND ECONOMIC LAW OF CHINA UNIVERSITY OF POLITICAL SCIENCE AND LAW, MENG YANBEI, PROFESSOR OF THE LAW SCHOOL OF Chinese UNIVERSITY AND VICE PRESIDENT OF THE ASIA-PACIFIC LAW INSTITUTE, HUANG YONG, PROFESSOR OF THE LAW SCHOOL OF THE UNIVERSITY OF INTERNATIONAL BUSINESS AND ECONOMICS AND EXECUTIVE VICE PRESIDENT OF THE INSTITUTE OF FOREIGN-RELATED RULE OF LAW, YOON KYUNGWON, RESEARCHER OF THE COMPETITION LAW CENTER OF SEOUL NATIONAL UNIVERSITY, WANG JIAN, PROFESSOR AND DEAN OF THE SCHOOL OF LAW AND POLITICS OF ZHEJIANG SCI-TECH UNIVERSITY, JIAO HAITAO, PROFESSOR OF THE SCHOOL OF CIVIL AND COMMERCIAL LAW OF CHINA UNIVERSITY OF POLITICAL SCIENCE AND LAW, HWANG TAEHI, PROFESSOR OF CHENGXIN WOMEN'S UNIVERSITY, JEON SEONGMIN, PROFESSOR OF JIAQUAN UNIVERSITY, SIM JAEHAN, PROFESSOR OF YEONGNAM UNIVERSITY IN Korea, PARK JOONYOUNG, PROFESSOR OF GYEONGSANG UNIVERSITY, JIN SUN-MYUNG, RESEARCHER OF THE INSTITUTE OF LAW OF THE CHINESE ACADEMY OF SOCIAL SCIENCES, JUNG JUMI, LECTURER OF SEOUL NATIONAL UNIVERSITY, DENG HONGGUANG, PROFESSOR OF THE SCHOOL OF CIVIL AND COMMERCIAL LAW, SOUTHWEST UNIVERSITY OF POLITICAL SCIENCE AND LAW, FENG BO, VICE DEAN AND PROFESSOR OF THE LAW SCHOOL OF TIANJIN UNIVERSITY OF FINANCE AND ECONOMICS, HAN WEI, ASSOCIATE PROFESSOR OF THE LAW SCHOOL OF THE UNIVERSITY OF CHINESE ACADEMY OF SOCIAL SCIENCES, YE WEIPING, PROFESSOR OF THE LAW SCHOOL OF SHENZHEN UNIVERSITY AND DEAN OF THE INSTITUTE OF INNOVATION AND DEVELOPMENT OF THE RULE OF LAW, YOU YOUNGGUG, PROFESSOR OF HANXIN UNIVERSITY, LU HAIJUN, PROFESSOR OF THE LAW SCHOOL OF THE UNIVERSITY OF INTERNATIONAL BUSINESS AND ECONOMICS, ZHANG YONGZHONG, DEAN AND PROFESSOR OF THE LAW SCHOOL OF SOUTH CHINA NORMAL UNIVERSITY, YANG LIPING, ASSOCIATE PROFESSOR OF THE LAW SCHOOL OF FUZHOU UNIVERSITY, CHOI NANSULHUN, PROFESSOR OF YONSEI UNIVERSITY, LI YAN, PROFESSOR AND VICE DEAN OF THE LAW SCHOOL OF LIAONING UNIVERSITY, Dr. Zhang Xin, Vice President of Public Affairs of Tencent Group, and Mr. Chen Fu, Senior Partner of Dentons, were invited to attend and speak at the closing ceremony on the topic of "Compliant Operation of Data Assets in the Context of Platform Economy".
Photo/Lawyer Chen Fu
Mr. Chen Fu made a concluding speech on the issue of "digital economy and data asset compliance" from the following three aspects. First of all, the significant development of the platform economy in recent years has become a key driving force for the high-quality growth of the digital economy. According to the statistics disclosed in the Digital China Development Report (2022), the total scale of China's digital economy reached 50.2 trillion yuan in 2022, accounting for 41.5% of gross domestic product (GDP), ranking second in the world. In the area of platform governance, the European Union has introduced the Digital Markets Act (DMA), however, China and Korea have not yet enacted specific laws to regulate platform governance. Under the legal framework of China, it mainly relies on the relevant regulations such as the Anti-Monopoly Law, the Anti-Unfair Competition Law, the Personal Information Protection Law, the Cybersecurity Law and the Data Security Law.
Secondly, in the context of the digital economy, the focus is on the compliance, confirmation, protection, pricing and transaction of data assets, among which how to identify data as the assets of data processors (the platform is one of them) has become one of the most urgent issues. At present, China has not clearly defined the types of data rights, and although the Civil Code provides for data protection, it mainly adopts the protection model of "rights" rather than "rights". In judicial practice, data protection is mainly implemented in accordance with the Anti-Unfair Competition Law, such as Dianping v. Baidu Dihua and Sina Weibo v. Maimai, and the court found that the defendant's conduct violated the Anti-Unfair Competition Law and infringed on the plaintiff's data rights and interests.
Finally, despite the complex challenges of confirming the rights of data assets at the legislative level, the Central Committee of the Communist Party of China (CPC) and the State Council issued the "20 Data Articles" in December 2022, subdividing data rights into the right to hold data resources, the right to process and use data, and the right to operate data products, realizing the recognition of data assets through administrative means. Based on this policy orientation, data asset registration has been launched across the country. In August 2023, the Ministry of Finance further promulgated the Interim Provisions on the Accounting Treatment of Enterprise Data Resources, which clearly states that data that meets the conditions for assetization can be recognized as intangible assets or inventory and included in the balance sheet, marking a substantial step forward in data assetization. This series of measures not only reflects the country's recognition of the value of data assets, but also provides clearer legal and policy guidance for the management and operation of data assets.
Our team has many successful cases in the field of data asset entry practice and data asset pledge financing. Through data assets, the assets of enterprises can be revitalized, so that enterprises can obtain more liquidity. Data asset management is not only related to the operational efficiency of enterprises, but also directly affects the core competitiveness of enterprises, and the high-quality development of the digital economy can be promoted through compliant operation of data assets.
Picture/meeting site
The forum ended successfully in a warm atmosphere, and the participants said that they had gained a lot and looked forward to more opportunities to participate in such an industry event in the future. Through participating in the forum, guests from all walks of life formed in-depth exchanges and ideological collisions across geographical boundaries, demonstrating the cutting-edge trends in the field of competition law between China and South Korea and the vigorous development of the industry. Dentons lawyers have rich theoretical and practical experience in the field of data asset entry, have long been committed to the research of data valorization and data element market reform, deeply involved in the formulation and promotion of data asset entry standards and guidelines, and are willing to work with all parties to establish a standard and compliant data asset entry process, fully explore the value of enterprise data elements, and balance the relationship between releasing the dividends of the digital economy and protecting personal information, trade secrets and national security.
Photo/Group photo of some participants