Gibo Designated as a Specialized Institution for Economic Value Assessment of Data

The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 3rd that it has been designated as a data valuation institution by the Ministry of Science and ICT (hereinafter referred to as MSIT). Kibo plans to take the lead in creating a data industry ecosystem in connection with small and medium-sized enterprise (SME) support projects.

Data valuation is the activity of evaluating data in terms of value, grade, or score according to evaluation techniques and models recognized by the market for the value of data. The data valuation institution was finally designated after on-site inspections and presentation evaluations from September last year, when MSIT announced the designation, through February this year.

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Since being selected as a patent technology business feasibility evaluation institution under the Invention Promotion Act in 1995, Kibo has accumulated extensive know-how in technology evaluation, intellectual property valuation, and carbon valuation. In line with the implementation of the MSIT system, Kibo has proactively established a data valuation model and secured human and physical infrastructure.

Kibo expects that data valuation can be linked with various internal and external SME support projects. Additionally, it plans to create new products to continuously support the innovative growth of SMEs by expanding data trading and utilization and advancing into data-related businesses.

Kim Jong-ho, Chairman of Kibo, said, "With this designation as a data valuation institution, we expect data distribution and utilization to become more active through the valuation of data owned by SMEs." He added, "Kibo will promote SME support projects that link data valuation with Kibo’s unique financial and non-financial businesses to create a data industry ecosystem that will drive future growth and strive to realize the world’s best digital platform government."

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