Forecast - Sin Jeongwon - Savings Bank Central Association, Sign 'Data Exchange and Joint Research Business Agreement'

On the 3rd, Park Jae-sik, President of the Korea Federation of Savings Banks (from the left), Wi Seong-baek, President of the Korea Deposit Insurance Corporation, and Shin Hyun-jun, President of the Korea Credit Information Services, are taking a commemorative photo after signing a "Business Agreement for Data Exchange and Joint Research." Photo by Korea Deposit Insurance Corporation

[Asia Economy Reporter Song Seung-seop] On the afternoon of the 3rd, the Korea Deposit Insurance Corporation, the Korea Federation of Savings Banks, and the Korea Credit Information Services signed a "Business Agreement for Data Exchange and Joint Research" at the KDIC building in Jung-gu, Seoul.

The agreement was made to promote the sound development of the savings bank industry and the financial sector. It establishes a cooperative relationship for the exchange of savings bank financial transaction and financial industry data, conducting joint research, and the shared use of the latest financial trends and statistical analysis reports.

To this end, each institution selected the household loan multiple debt and delinquency status in the savings bank sector, and the effectiveness of using alternative information during credit screening as joint research topics. Analysis will be conducted using CreDB, the credit information agency's financial big data open system.

Wi Sung-baek, president of KDIC, explained, "Through the signing of this agreement, the institutions will share microdata and analytical know-how they possess," and added, "We expect to further enhance our crisis management capabilities."

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