SKT Gathers Public-Private Big Data to Support Small Business Owners

[Asia Economy Reporter Seol Gina] Big data leaders from both the private and public sectors, including SK Telecom, have joined forces to support small business owners.

According to SK Telecom on the 20th, the company signed a business agreement the previous day with Seoul Credit Guarantee Foundation and KB Kookmin Card regarding the exchange of data and joint research to support small business owners.

The core of this big data collaboration is to integrate and enhance key data for commercial district analysis, such as SK Telecom’s mobile communication-based ‘floating population’ data, KB Kookmin Card’s small business ‘merchant’ data, and Seoul Credit Guarantee Foundation’s ‘commercial district revitalization index.’

The three parties plan to support public institutions like the Seoul Metropolitan Government in establishing small business support policies tailored to regional characteristics by utilizing integrated data on floating population and store information for each commercial district.

Additionally, the integrated data from the three organizations will be used as key data on the Seoul Metropolitan Government’s ‘Our Neighborhood Store Commercial District Analysis Service’ website, which provides consulting on important location information such as commercial districts and stores to small business owners. SK Telecom’s floating population data is evaluated as not only crucial for small business owners when making decisions such as site selection during startup but also useful for analyzing the economic activity status of commercial districts by understanding changes in the floating population by region.

The three parties intend to develop this agreement as a model case of ESG management that supports small business management activities and revitalizes the local economy through cooperation between private and public institutions.

Han Jong-kwan, Chairman of the Seoul Credit Guarantee Foundation, stated, “The purpose of this agreement is to assist small business owners’ decision-making by providing highly consistent commercial district data amid the rapidly changing pandemic situation,” and added, “We will continue to transcend the boundaries between the private and public sectors to expand mutual exchanges and provide high-quality public services.”

Jang Hong-seong, Head of SK Telecom’s Advertising Data Company, said, “We expect that the scientific analysis based on the integrated data from the three organizations will greatly help small business owners operating in difficult environments,” and added, “SK Telecom will continue to expand cooperation with public institutions and private companies that possess big data.”

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