Kookmin Bank Opens 'KB Real Estate Big Data Center'

KB Kookmin Bank announced on the 2nd that it has established the ‘KB Real Estate Big Data Center’ to strengthen real estate financing and enhance competitiveness in real estate data.

The establishment of the KB Real Estate Big Data Center aims to integrate the organizations responsible for price surveys, development and operation of the Automated Valuation Model (AVM), housing statistics, and commercial real estate investment index tasks, thereby strengthening its capabilities as a specialized real estate data institution.

The center involves experts in real estate price and statistical surveys, as well as professionals from various fields including data analysis, database operation, artificial intelligence (AI) modeling, and market analysis. In particular, the center head, Lee Jong-ah, who oversees the center, previously served as a research fellow in real estate market analysis and real estate finance at KB Financial Group’s Management Research Institute, and is a real estate expert who developed and operated KB Price in 2002.

Along with the establishment of the center, KB Kookmin Bank plans to improve the quality of existing data such as KB real estate prices and statistics, and expand its data business through the discovery of new data and application of new technologies.

Center head Lee said, “Our goal is to grow into the most trusted real estate specialized institution in the market,” adding, “We will contribute to increasing transparency in the real estate market and the development of related industries such as proptech by making real estate information easily accessible to everyone.”

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