Recently, increasing use of big data have caused regulation factors of personal information and combination of pseudonymized information to emerge as key policy measures. Therefore, this study empirically analyzed the mediating effect and moderating effect of pseudonymized information combination as the third variable in the relationship between regulation factors of personal information and big data utilization. The analysis showed the following results: First, among personal information regulation factors, definition regulation, consent regulation, supervisory authority regulation, and punishment intensity regulation showed a positive(+) relationship with the big data utilization, while among pseudonymized information combination factors, non-identification of combination, standardization of combined pseudonymized information, and responsibility of combination were also found to be in a positive relationship with the use of big data.
Second, among the factors of pseudonymized information combination, non-identification of combination, standardization of combined pseudonymized information, and responsibility of combination showed a positive(+) mediating effect in relation to regulation factors of personal information and big data utilization. Third, in the relationship between personal information regulation factors and big data utilization, the moderating effect hypothesis that each combination institution type of pseudonymized information (free-type, intermediary-type, and designated-type) would play a different role as a moderator was rejected. Based on the results of the empirical research, policy alternatives of ’Good Regulation’ were proposed, which would maintain balance between protection of personal information and big data utilization.