Bank of Korea Signs MOU with Summers Platform to Monitor Regional Economy Using Big Data
[Asia Economy Reporter Kim Eun-byeol] The Bank of Korea announced on the 14th that it will sign a memorandum of understanding (MOU) with Summers Platform on the 15th to monitor regional economic trends based on big data.
Summers Platform is a company that possesses various online transaction data, including purchase data from users of the price comparison site (Enuri.com) and the parcel delivery tracking app (Smart Taekbae).
The two organizations agreed to cooperate by providing online sales big data for monitoring regional economic trends and exchanging opinions on regional economy and online transaction trends.
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The Bank of Korea expressed expectations that "it will be able to more quickly grasp the increasingly significant online transaction trends and enhance the monitoring level of regional economic trends." It also added, "We will continue to expand basic data for the rapid identification of trends in regional consumption and service industries."
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