A memory system may wait to receive one or more read commands from a reference time point, and read data, requested by the one or more read commands, from the memory device in response to a determination that it is possible to simultaneously read data divided and stored, as an M number of data units, in an M number of planes among a plurality of planes in response to the one or more read commands or that a maximum read wait time has elapsed from the reference time point, M being a natural number.