Statistics Korea and Duzon Bizon Sign Agreement on 'Data Provision and Operation' Collaboration

[Sejong=Asia Economy Reporter Son Seonhee] On the 16th, Statistics Korea announced that it signed a business agreement with Duzon Bizon for data provision and operational cooperation to establish the Nowcast portal.

The Nowcast portal is a system that develops and provides 10 rapid indicators in four major sectors?households, businesses, jobs, and public health?on a weekly basis using public and private big data.

Ryu Geun-gwan, Commissioner of Statistics Korea, stated, "We will support the general public in quickly understanding the economic and social situation through the data construction, integration, and analysis experience accumulated by Statistics Korea and Duzon Bizon's management data of small and medium-sized enterprises."

Song Ho-cheol, CEO of Duzon Bizon’s Platform Business Division, said, "Data is a very important resource in the era of the Fourth Industrial Revolution, produced and managed by various entities, and such data only have meaning when linked and analyzed. We hope this business agreement will serve as an opportunity to expand collaboration between the government and the private sector."

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