Shinhan Card and KDI Sign Business Agreement to Utilize Data for National Development Research

Agreed to Mutual Cooperation on Data-Driven National Development Research Including COVID-19, Disaster Relief Funds, and Delivery Apps

Shinhan Card signed a business agreement with the Korea Development Institute (KDI) to participate in national development research through data collaboration. On the 3rd, at the agreement ceremony held at Shinhan Card headquarters in Jung-gu, Seoul, Lim Young-jin, President of Shinhan Card (left), and Hong Jang-pyo, President of KDI, attended and posed for a photo. Photo by Lim Young-jin

[Asia Economy Reporter Ki Ha-young] Shinhan Card announced on the 3rd that it has signed a 'Data-Driven National Development Research Agreement' with the Korea Development Institute (KDI).

The signing ceremony took place at Shinhan Card headquarters in Euljiro, Seoul, attended by Hong Jang-pyo, President of KDI, Lim Young-jin, CEO of Shinhan Card, and other officials.

Through this agreement, both organizations are expected to elevate the level of research for national development and participate in various national policy studies based on Shinhan Card's vast consumer data and KDI's unique data analysis and research capabilities.

As an initial task, the two institutions plan to promote national development research closely related to social issues, such as studies on the effects of COVID-19 and national disaster relief funds, and research on industrial structural changes through analysis of delivery app consumption data.

Furthermore, they will continue to cooperate in strengthening data-driven research and discovering new indicators by utilizing Shinhan Card's consumption data of approximately 350 million transactions per month from a customer base of 27.5 million people in various economic and social fields related to national development research.

Lim Young-jin, CEO of Shinhan Card, said, "We will spare no effort and support to establish this data collaboration as another successful model achieved jointly by a national research institute and a private company," adding, "In connection with Shinhan Financial Group's new vision of 'Easier, More Comfortable, and New Finance,' we will do our best to serve as a catalyst for revitalizing Korea's data economy."

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