GS Shop Signs Business Agreement with KB Kookmin Card and LG Uplus... "Big Data Alliance"

CEO Nam Seongpil of AB180 (left), Vice President Park Younghoon of GS Shop, Vice President Lee Sangmin of LG Uplus, and Executive Director Lee Haejung of KB Kookmin Card (right) are posing for a commemorative photo.

[Asia Economy Reporter Lim Chunhan] GS Shop announced on the 3rd that it has signed a business agreement with KB Kookmin Card and LG Uplus for a "big data alliance through an inter-industry data fusion platform."

The inter-industry data fusion platform is a customer-consent-based data platform established in May last year through a partnership of seven companies including KB Kookmin Card, AB180, Lotte Department Store, Danawa, Junggonara, T-money, and Topas Travel Information.

This platform is operated by AB180, a data infrastructure specialist and one of GS Shop's major investors. It integrates various data such as shopping, search content, transportation, and consumption to be utilized for hyper-personalization and new business discovery.

Through this agreement with KB Kookmin Card and LG Uplus, GS Shop expects to combine big data related to distribution and telecommunications with existing data to create the highest level of data synergy in Korea. Especially with the upcoming merger with GS Retail in July, they plan to apply fusion big data to various new areas related to online-offline mix and design innovative services different from before.

Park Younghoon, Vice President of GS Shop, said, "As this is the largest-scale data alliance in the private sector since the Data 3 Act, we expect to create groundbreaking customer value such as hyper-personalization based on this." He added, "Furthermore, it will contribute to the revitalization of Korea's data economy."