Starting Tomorrow, 44.5 Million Corporate, Financial, and Capital Market Data Records Available for Free Use

580,000 Non-Audited Corporation Records Released Free for the First Time

[Asia Economy Reporter Kim Hyo-jin] From the 9th of this month, financial consumers and others will be able to use 44.5 million pieces of corporate, financial, and capital market-related data held by financial authorities and public financial institutions free of charge.

The data comes from the Financial Services Commission, Financial Supervisory Service, Korea Deposit Insurance Corporation, KDB Industrial Bank, IBK Industrial Bank, Korea Credit Guarantee Fund, Korea Securities Depository, Korea Asset Management Corporation, Korea Housing Finance Corporation, and Korea Inclusive Finance Agency.

The Financial Services Commission announced on the 8th that it will start a service on the 9th to fully open this scale of financial public data externally via an Application Programming Interface (API) method through the Public Data Portal.

The disclosed data includes 50 services and 5,500 items of thematic information in five core areas: integrated corporate, integrated financial companies, integrated disclosure, integrated capital market, and integrated national asset auction. It is big data that links, converges, and standardizes the vast data held by the Financial Services Commission and other financial public institutions.

Among the integrated corporate information, about 580,000 non-audit corporation data will be disclosed free of charge for the first time. Non-audit corporations are companies not subject to accounting audits under the External Audit Act and are not required to post on the Financial Supervisory Service's electronic disclosure system (DART).

The integrated corporate information contains governance and financial information. Through integrated disclosure information, one can check corporate business status and securities information. Basic, financial, and statistical information of financial companies (integrated financial companies), issuance and transaction information by type of securities (integrated capital market information), and national property information and customer transaction information (integrated national asset auction information) can also be identified.

The Financial Services Commission believes that public data in the financial sector has been somewhat sluggish in opening compared to other fields due to conservative work practices. Accordingly, since July last year, the Financial Services Commission has been conducting a financial public data opening project with nine financial public institutions and started a pilot service in April this year.

Since the pilot service, as of the 3rd of this month, there have been 871 open API applications and about 46,700 uses. The Financial Services Commission evaluated that there was high interest from all data market participants, including credit information companies, new fintech companies, and research institutions.

With the passage of the 'Data 3 Act' enabling pseudonymized information processing, the emergence of the big data market, and the combination of heterogeneous data from public and private sectors, the Financial Services Commission expects financial public data to play a key role in the data economy era.

The Financial Services Commission plans to advance the financial public data opening system and expand the opening institutions to include the Korea Exchange, Korea Financial Investment Association, Life and Non-life Insurance Associations, Credit Finance Association, and Korea Federation of Savings Banks.

This content was produced with the assistance of AI translation services.