[New Year's Message] Shin Hyun-jun, President of the Credit Information Agency, "Will Effectively Support the Data Economy Era"

"Digital Transformation Is No Longer a Choice but an Essential Condition for Survival"

[Asia Economy Reporter Park Sun-mi] On the 30th, Shin Hyun-joon, President of the Korea Credit Information Services (KCIS), stated in his New Year's address that he will prioritize effectively supporting innovation and structural changes in the financial industry in the data economy era, aiming to make it a year of soaring success, described as ilbichungcheon (一飛沖天).

President Shin said, "In the era of the Fourth Industrial Revolution's sweeping socio-economic structural transformation, digital transformation is no longer a choice but an indispensable condition for survival, and especially financial companies at the forefront of the fierce wave of transformation into a digital economy are promoting data-driven business transformation as a key project. The expectations for the role of KCIS, as a data hub and central service institution in the financial sector, are gradually increasing."

He added, "Based on KCIS's specialized strengths in data, we will seize the flow of this great era of innovation and change as an opportunity to make it a year full of outstanding achievements, described as ‘ilbichungcheon (一飛沖天·meaning to soar high into the sky once taking flight),” expressing his determination.

In his New Year's address, President Shin also revealed that KCIS plans to actively promote five key areas, prioritizing effective support for innovation and structural changes in the financial industry in the data economy era.

Regarding the direction for the new year's work, he said, "We will continuously improve the quality and infrastructure of credit information and discover new information that requires additional focus," adding, "We will also actively support the MyData industry and create an environment to effectively respond to the financial sector's demand for high-quality big data utilization."

He continued, "We will support the advancement of a comprehensive innovative financial system to revitalize technology-based growth SMEs' financing, conduct effective verification of the personal credit evaluation system, strengthen the protection of financial consumers' credit information to enhance their actual rights, and establish an effective and secure IT security and protection system balanced with data utilization."

President Shin urged employees, "For this, do not be complacent with the current state but approach your work with the attitude of ‘seontaesahae (蟬?蛇解·meaning the cicada shedding its shell and the snake shedding its skin).”

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