Statistics Korea-KoDATA Agree on Data Sharing and Utilization Cooperation for "Regional Industry Innovation"

Han Hoon, Commissioner of the Korea National Statistical Office (left), and Lee Ho-dong, CEO, are taking a commemorative photo at the business agreement ceremony held on the 31st of last month at the KoDATA headquarters in Yeouido, Seoul.

[Asia Economy Reporter Kim Bo-kyung] Korea Data Agency (KoDATA) announced on the 1st that it signed a business agreement with Statistics Korea at its headquarters in Yeouido, Seoul, regarding "Support for Regional Industry Policy Establishment Based on Statistics and Data."

This agreement was prepared to promote the spread of an active administrative culture supporting data-driven policy establishment. Through this agreement, the two organizations agreed to ▲ build a 'Corporate Statistics Dashboard' by region ▲ cooperate in utilizing corporate and industry indicators and data held by both parties.

Accordingly, KoDATA will construct the dashboard by utilizing detailed corporate data and secondary analyzed data it holds, based on the Corporate Statistical Register (SBR) data from Statistics Korea. It will also distribute the dashboard to 247 local governments nationwide. Statistics Korea plans to introduce the Corporate Statistical Register as an excellent collaboration case to local governments and related organizations nationwide, along with supporting data utilization.

Both organizations expect that local governments and public institutions will be able to easily grasp regional industry trends through the dashboard and efficiently monitor risk occurrences. It is also anticipated that dynamic data-driven policy decisions and timely policy establishment will be possible.

Statistics Korea's Corporate Statistical Register builds basic information on domestic companies, while KoDATA can provide advanced analytical information, including detailed corporate data, risk indicators, and predictive indicators. Therefore, it is expected to significantly enhance the overall perspective on regional industry status and the accuracy of future forecasts.

Han Hoon, Commissioner of Statistics Korea, stated, "We plan to actively support the integrated use of statistical data to create added value through information convergence." Lee Ho-dong, CEO of KoDATA, said, "I hope this agreement will not only establish itself as a collaborative case forming the foundation of regional industry innovation but also serve as an opportunity for the private sector to expand its role as a partner in policy going forward."

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