Shinhan Card Partners with KCB and Sojinkong to Improve 'Commercial Area Information System'

Establishment of Integrated Business Database Linking Sojinkong Commercial Area DB, Shinhan Card Merchant DB, and KCB Soho DB

[Asia Economy Reporter Yu Je-hoon] Shinhan Card announced on the 22nd that it has signed an agreement with Korea Credit Bureau (KCB) and the Small Enterprise and Market Service (SEMAS) to improve the commercial district information system operated by SEMAS.

Through this agreement, the three parties will link SEMAS's commercial district database (DB), Shinhan Card's merchant DB, and KCB's SOHO DB to promote the systematic construction of an integrated business operator DB. The company explained that by combining scattered business operator information, it will be possible to conduct multifaceted and precise analyses of individual business owners, enabling financial support plans tailored to changes in the small business market and the status of individual operators, as well as the establishment of policies to revitalize commercial districts.

Based on this, services that provide useful information to entrepreneurs and self-employed individuals?such as accurate sales levels by region, industry, and commercial district, the stability of commercial districts, and consumer purchasing power?will also be developed.

Shinhan Card, as the industry leader, possesses vast data, allowing multidimensional analysis not only of merchant sales and business operator profiles but also of customer tendencies using the business locations. In particular, through its individual business operator CB business, it holds various information that can be provided to entrepreneurs and self-employed individuals, such as individual business credit evaluations, sales estimates, and business closure indices.

Additionally, Shinhan Card plays a key role in building integrated business operator DBs, data exchange, and utilization, operating the private data dam 'Gran Data' together with KCB and SKT. Since SEMAS and KCB, the cooperating institutions in this project, also have clear qualitative competitiveness in their data and business capabilities, Shinhan Card envisions that the three parties will collaborate to create a highly complete service that provides practical help to business operators.

A Shinhan Card official said, "We will promote this project from a long-term perspective under the shared goal of creating services that provide practical help to small business owners and self-employed individuals who have endured difficult times due to COVID-19, and fostering small business owners with digital competitiveness through data," adding, "We expect this to lay the foundation for building a big data platform for small businesses through public-private cooperation."

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