SK Telecom (SKT) announced on June 17 that it is partnering with the Seoul Credit Guarantee Foundation, KB Kookmin Bank, and KB Kookmin Card to establish a public-private data collaboration system aimed at supporting small businesses through business district analysis.
The four organizations signed a memorandum of understanding (MOU) on June 16 at KB Kookmin Bank's new building in Yeouido, Seoul, to facilitate data sharing and joint research for small business support. This collaboration will integrate and analyze data on pedestrian traffic (SKT), merchant sales (KB Kookmin Card), business district revitalization indices and store histories (Seoul Credit Guarantee Foundation), and deposits and loans (KB Kookmin Bank) to better understand regional business district changes and funding needs.
During the signing ceremony, the organizations presented findings from their analysis of specific business districts in Seoul. For instance, the Sinchon-Yonseiro area has recently shifted from a transient business district to one that encourages longer stays, influenced by the implementation of car-free Sundays, which has increased nighttime pedestrian traffic and the proportion of visitors who stay longer.
While previous business district analyses focused primarily on pedestrian traffic volume, this collaboration emphasizes stay duration and consumer patterns, aiming to uncover sustainable local business opportunities. This approach is expected to enhance the success rate of startups and the survival rate of small businesses.
The four organizations plan to work with the Seoul city government and local districts to expand tailored support models that align with the characteristics of different business areas. They also aim to strengthen the data competitiveness of Seoul's business district analysis service, which provides consulting on location information for small businesses. Small business owners will be able to utilize this data to assess visitor demographics, stay patterns by time of day, and changes in sales trends among similar businesses.
Kim Myung-guk, head of Industrial AI at SKT, stated, "SKT will enhance its role as a data-driven business partner that small businesses can genuinely benefit from, going beyond mere technical support."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.