Shinhan Card Partners with Korea SMEs and Startups Agency to Promote Activation of Small Business CB Project

Signed MOU with Junggiyeon... To Conduct Research on Systems, Policies, Finance, and Commercial Area Revitalization for Small Business Owners

[Asia Economy Reporter Yu Je-hoon] Shinhan Card announced on the 8th that it has signed a "business agreement for joint research on small business owners based on personal business credit evaluation (CB)" with the Small and Medium Venture Business Research Institute, a think tank for small business owner research, to strengthen research capabilities based on small business owner data.

Through this agreement, both parties plan to conduct research on systems, policies, finance, and commercial district revitalization for small business owners by leveraging Shinhan Card’s credit evaluation and business-specialized DB operated as a personal business CB, along with the Small and Medium Venture Business Research Institute’s diverse analytical experience and research know-how.

As their first research project, the two parties selected "Deriving infrastructure measures for changes and re-challenges of small business owners after COVID-19," aiming to classify small business owner types by identifying their key characteristics and vulnerabilities, and to prepare tailored policy alternatives. Based on this research, the company explained that they will proceed with follow-up work such as designing changed policies and financial services according to small business owner types and creating credit information services that correspond to them.

Additionally, the two parties plan to develop and advance various collaborative projects for small business owners based on a data-driven Environmental, Social, and Governance (ESG) management philosophy through this collaboration. They intend to publish insight reports based on joint research results, propose revitalization business strategies by region and commercial district, and build a collaborative network such as preparing a joint research DB in the long term.

Meanwhile, Shinhan Card operates "MyCredit," the first personal business CB service by a card company. In addition to credit evaluation services exclusively for business owners, it provides financial institutions with stability evaluation indices, sales estimates, and industry, sales, commercial district, business duration, and statistical information at the individual business owner level. Recently, it launched an information service reflecting delivery sales, striving to refine evaluations of restaurant business owners, who were classified as high-risk industries after COVID-19, and is expanding its utilization as a highly reliable alternative information source recognized by various financial sectors such as banks, card companies, savings banks, and capital companies.

A Shinhan Card official stated, "As a credit evaluation specialist, we plan not only to provide more sophisticated credit evaluation services but also to create data assets that can improve small business owner systems and financial conditions through various attempts, such as this collaboration case, to contribute to the business stability and revitalization of small business owners."

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