Opening of the Credit Evaluation Platform for Small Business Owners 'MySosin (My小信)'

Small Business Association Supports Customized Financial Services through Small Business MyData Management and Credit Evaluation

The dedicated credit evaluation platform for small business owners, 'MySosin (My小信)', has launched its website.
[Photo by Small Enterprise Association]

[Asia Economy Reporter Kim Jong-hwa] The Korea Federation of Micro Enterprises announced on the 17th that it has launched the website for 'MySosin (My小信)', a non-face-to-face platform with a credit evaluation model exclusively for micro enterprises, and has begun full-scale service.

The Korea Federation of Micro Enterprises was selected for the '2020 MyData Demonstration Service Support Project' announced by the Ministry of Science and ICT and the Korea Data Agency. It formed a consortium with a total of seven companies including the Korea Simple Payment Promotion Agency, Shinhan Card, and K-One Information & Communication to develop the non-face-to-face platform 'MySosin'.

MySosin is a word combining MyData and the credit of micro enterprises, meaning to establish the credit of micro enterprises by protecting data rights reasonably and providing transparent information on commercial real estate rent and key money.

Micro enterprise MyData refers to the series of processes where micro enterprises easily collect and manage information such as their rent and monthly sales, and actively utilize this information for credit and asset management. By using MyData, micro enterprises, as information subjects, can utilize their information to receive recommendations for financial services or judge the appropriateness of store prices or business types when trading stores.

The micro enterprise MyData demonstration service supports recommending optimal financial services by utilizing commercial real estate information through simplified procedures in a safer non-face-to-face manner for micro enterprises.

A representative of the Korea Federation of Micro Enterprises said, "This service goes beyond the existing credit rating evaluation methods by reflecting various assets of micro enterprises in financial evaluations, allowing them to receive customized financial services suited to them," adding, "It will be a new vitality for micro enterprises who had difficulty in funding due to only receiving personal credit evaluations."

Meanwhile, the Korea Federation of Micro Enterprises is also conducting a MySosin subscription event, providing life quarantine sets on a first-come, first-served basis to micro enterprises until the 20th to expand MySosin subscribers.

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