Kyobo Securities Obtains Preliminary Approval for MyData License

[Asia Economy Reporter Minji Lee] Kyobo Securities announced on the 22nd that it has obtained a preliminary license for MyData (personal credit information management business) from the Financial Services Commission.

The MyData business collects customer information scattered across various places with the customer's consent to provide customized financial services to consumers. On the 21st, the Financial Services Commission decided to grant preliminary licenses for the MyData business to five companies, including Kyobo Securities, at a regular meeting.

In early July this year, Kyobo Securities established the Digital New Business Headquarters, consisting of the Digital New Business Planning Department and the Digital New Business Promotion Department, as a dedicated organization to promote the MyData business. Additionally, it has been preparing for the MyData business by conducting naming and idea contests for employees.

An Jo-young, Head of the Management Planning Office, said, "We plan to utilize various personal data to provide differentiated financial services to customers and help them have diverse investment experiences," adding, "We will do our best to obtain the official MyData license as soon as possible."

Meanwhile, Kyobo Securities plans to continuously expand business partnerships not only with Kyobo Group companies but also with financial institutions, non-financial sectors, and fintech companies to build a digital platform based on financial data in line with the group's digital innovation.

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