NH Nonghyup Bank Signs Business Agreement with Korea Chamber of Commerce and Industry for Utilizing Distribution Data

Providing Buyer Information and More... Reference Material for Business Models

Jaeho Jeong (left), Vice President of NH Nonghyup Bank, and Taehee Woo, Executive Vice President of the Korea Chamber of Commerce and Industry, are posing for a commemorative photo after signing a business agreement on product information, sales information, and social contribution on the 8th at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul. Photo by NH Nonghyup Bank

NH Nonghyup Bank announced on the 9th that it signed a social contribution business agreement with the Korea Chamber of Commerce and Industry on the 8th to utilize distribution data.

Under this agreement, NH Nonghyup Bank will provide de-identified sales information excluding personal information of NH Members, and the Korea Chamber of Commerce and Industry will provide this sales information matched with product information to the 'Distribution Data Service Platform.'

Startups, manufacturers, and distributors will be able to use information about buyers, purchase locations, and purchased items as basic data to create new business models. Manufacturing and distribution companies can also use it for product launch strategies, understanding purchasing trends, and analyzing commercial districts and sales forecasts.

Jung Jae-ho, Vice President of the Data Division at NH Nonghyup Bank, said, "Through this business agreement, we will continuously fulfill our social responsibility management (ESG) by providing valuable data, and internally, we will strive to grow the data provision business into a future growth engine."

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