Statistics Korea to Launch Four Major Indicators on Households, Businesses, Employment, and Health Within the Year

[Sejong=Asia Economy Reporter Son Seonhee] On the 8th, Statistics Korea announced that it will develop and provide within the year a real-time indicator service for four major sectors based on big data: households, businesses, jobs, and public health.

Statistics Korea plans to develop the 'Nowcast Portal' within the year, where users can access these indicator services. It statistically verifies and indexes real-time private data such as credit card transaction information, loan information, mobile communication location data, and job site recruitment information. The related data will be secured through memorandums of understanding (MOUs) with private institutions that have expressed willingness to provide data.

Ryu Geun-gwan, Commissioner of Statistics Korea, said, "Timely economic and social indicators, visualized information, and research reports will help the general public quickly understand economic and social conditions and contribute to establishing a data-driven decision-making culture in Korea."

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