BOK-Korea Credit Information Services MOU... Strengthening Corporate Sector Analysis

[Asia Economy Reporter Eunbyeol Kim] The Bank of Korea and the Korea Credit Information Services signed a memorandum of understanding (MOU) on the 23rd to strengthen microdata-based corporate sector analysis. Through this MOU, the two institutions agreed to share corporate credit microdata to enhance corporate credit analysis and to cooperate on joint research utilizing corporate credit information.

Lee Seungheon, Deputy Governor of the Bank of Korea, stated, "With this business agreement, it will be possible to systematically and promptly secure microdata on corporate loans from all financial institutions through the Korea Credit Information Services, and we expect to perform financial stability and joint inspection-related tasks, such as future corporate sector soundness checks, more effectively."

Shin Hyunjun, President of the Korea Credit Information Services, said, "This business agreement will directly and indirectly contribute to the central bank's financial stability policy implementation, and through information exchange with the Bank of Korea, it will also help activate big data initiatives promoted by the Korea Credit Information Services."

The Bank of Korea plans to continue efforts to expand the inspection base for the corporate sector. As part of the mid- to long-term development strategy (BOK 2030), it plans to establish a system that comprehensively manages corporate-related microdata, including not only individual loan information but also financial information.

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