KB Financial Group Combines Financial, Telecom, and Commercial Big Data to Support Small Businesses

Kim Myung-guk of SK Telecom's Industrial AI (from left), Choi Hang-do, Chairman of the Seoul Credit Guarantee Foundation, Park Hyung-joo, Head of AI & DT Promotion at KB Kookmin Bank, and Lee Sang-yeol, Executive Director of AI Data Business Group at KB Kookmin Card, pose for a commemorative photo at the MOU signing ceremony for enhancing small business competitiveness through big data on June 16 in Yeouido, Seoul. [Photo=KB Financial Group]

KB Financial Group is launching a collaboration that combines financial, telecom, and commercial data through big data initiatives. The goal is to analyze the management environment of small businesses in detail by linking financial data with public and private information, ultimately supporting the development of tailored regional support policies.
On June 16, KB Kookmin Bank and Kookmin Card announced that they signed a memorandum of understanding (MOU) with the Seoul Credit Guarantee Foundation and SK Telecom at KB Kookmin Bank's new building in Yeouido, Seoul.
The MOU aims to integrate financial data from KB Financial with telecom and commercial data to comprehensively analyze the management environment of local businesses and small enterprises, thereby creating effective support measures to stimulate the regional economy.
The participating organizations plan to establish a big data collaboration system that combines their respective data and analytical capabilities, while also developing a foundation for data standardization and consistency management. They will expand tailored commercial analysis and policy impact analysis services for public institutions and local governments, and operate a working group to support small businesses.
During the MOU ceremony, the organizations shared analysis results regarding the development status of specific commercial areas in Seoul, utilizing their data. The comprehensive analysis included information on foot traffic, consumer spending, and business openings and closures, which enhanced the reliability of data usage and the applicability of policy measures.
A representative from KB Financial stated, "Financial data is a key asset for understanding changes in local economies and commercial areas. Through this MOU, we aim to organically link financial, consumer, telecom, and commercial data to create analytical and support models that provide tangible benefits to small businesses and the local economy."

* This article has been translated by AI.

Ahn Seon Young asy728@ajunews.com