Shinhan Bank Signs Business Agreement with Gangwon-do to Establish Integrated Service Platform

At the business agreement ceremony held on the 12th at Duzon Bizon Gangchon Campus in Chuncheon-si, Gangwon-do, (from left) Jeon Daewon, Head of Gangwon Sales Headquarters at NH Nonghyup Bank, Jeon Pilhwan, Vice President of Digital Group at Shinhan Bank, Choi Moonsoon, Governor of Gangwon-do, Kim Yongwoo, CEO of Duzon Bizon, Kim Jonghyup, CEO of ICONLOOP, and Lee Geunju, President of Korea Simple Payment Promotion Agency, are posing for a commemorative photo.

[Asia Economy Reporter Jin-ho Kim] Shinhan Bank announced on the 13th that it has signed a business agreement with Gangwon Province to establish an integrated service platform centered on the residents of the province.

The business agreement ceremony held the day before was attended by Choi Moon-soon, Governor of Gangwon Province, and key companies and institutions participating in the platform construction, including Shinhan Bank, Douzone Bizon, NH Nonghyup Bank, Korea Simple Payment Promotion Agency, and ICONLOOP, as well as consortium officials.

Gangwon Province is building an integrated service platform called ‘Nayana’ to digitally transform the overall administration, economy, and welfare of Gangwon Province. The platform applies decentralized identity verification technology, allowing individuals to safely prove their identity and qualifications anytime and anywhere using only their mobile phones, enabling diverse use across online and offline administrative and daily life services.

Shinhan Bank plans to apply the ‘Jjing (My ID)’ service, based on decentralized identity verification (DID) technology, which was applied to Shinhan SOL in August last year, to the ‘Nayana’ platform to support Gangwon residents in applying for and receiving various subsidies remotely.

Subsidies received through the platform can be used in connection with ‘Gangwon Mart’ and ‘Gangwon Gift Certificates.’ In the future, through collaboration among participating partners, various life-oriented financial services will be provided to the residents.

Jeon Pil-hwan, Vice President of Shinhan Bank’s Digital Group, said, “The ‘Nayana’ platform is a case of applying DID (Decentralized ID) at the intersection of finance and administration, which will serve as an opportunity for the DID ecosystem to expand in the future,” and added, “We will continue to do our best to support convenient financial services for residents in the Gangwon region.”