LG Electronics Introduces Telecom-Based Credit Scoring Model in Care Solutions Business

Promotion of 'Telescore' Based on Communication Fee Payment Records Within the Year
At Least Financial Performance Allows Use of Home Appliance Rental Services

LG Electronics models are introducing the telecommunications expense-based credit scoring model "TelcoScore," which is planned to be implemented within the year to allow customers with limited financial transaction history to use care solution services.
[Photo by LG Electronics]

[Asia Economy Reporter Kim Heung-soon] LG Electronics announced on the 31st that it will introduce 'TelcoScore,' the industry's first credit evaluation model based on telecommunications fees, allowing customers with limited financial transaction history to use its premium home appliances through rental services.

Scheduled to be introduced within the year, TelcoScore is a new credit evaluation model combining LG Uplus's telecommunications big data and NICE Credit Information Service's financial credit evaluation expertise. Unlike existing evaluation models that assess credit solely based on financial transaction records, LG Electronics explained that TelcoScore evaluates credit based on telecommunications fee payment records, duration of telecommunications activity, and small mobile payments.

Accordingly, college students, young professionals, homemakers, and senior citizens with limited financial transaction history who have consistently paid their telecommunications fees without delay can verify their creditworthiness through TelcoScore and use the Care Solution services provided with LG Electronics rental appliances.

LG Electronics currently offers Care Solution services for nine home appliances, including the PuriCare water purifier, Tromm dryer, PuriCare air purifier, Tromm Styler, Dios dishwasher, Dios electric range, Dios ice water purifier refrigerator, HealingMe massage chair, and HomeBrew craft beer maker. The company plans to expand the range of service items in the future.

Choi Hee-seung, Head of Rental Caring Management Office at LG Electronics Korea Sales Division, said, "We will ensure that more customers can enjoy the differentiated value that can only be experienced with LG Electronics premium home appliances through the Care Solution service."

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