KT and Seoul City Successfully Complete 'Golmok Economy Revival Project'

The owner of 'Hanok Andong Guksi' in Mokdong, Yangcheon-gu, Seoul, is receiving big data commercial district analysis consulting from the 'Gatgiyagage' team members of Sookmyung Women's University, who participated in the alley economy revival project.

[Asia Economy Reporter Lim Hye-seon] KT announced on the 19th that it has completed the 'Alley Economy Revival Project' conducted in collaboration with the Seoul Metropolitan Government. The 'Alley Economy Revival Project,' which started in October last year, is a project where university students provide management and marketing consulting to small business owners in need, using big data provided jointly by the public and private sectors.

KT and the Seoul Metropolitan Government recruited university student teams to conduct one-on-one consulting for each store and provided selected students with specialized training in marketing and big data analysis. Afterwards, the students conducted on-site store inspections and interviews with store owners, then used big data to offer full-scale marketing and management consulting.

The participating university students utilized KT's big data commercial district analysis platform 'Jalnagage' and the 'Our Neighborhood Store Commercial District Analysis Service' provided by the Seoul Metropolitan Government and the Seoul Credit Guarantee Foundation for their consulting. 'Jalnagage' is a platform that uses KT big data such as base station signals to provide analysis and business tips for each commercial district. The 'Our Neighborhood Store Commercial District Analysis Service' offers various information on about 100 daily life-related industries based on commercial district big data secured by the Seoul Metropolitan Government. KT stated that the monthly sales of small business stores participating in this project increased by an average of 27% compared to before.

Meanwhile, on the afternoon of the 18th, an awards ceremony for the 'Alley Economy Revival Project' was held at the Seosomun Government Complex in Seoul City Hall. Among the 30 participating teams, 10 teams received awards. Among them, 4 teams won the grand prize. One of the grand prize teams, Sookmyung Women's University’s 'Gachi Gage' team, conducted big data consulting for the 'Hanok Andong Guksi' store located in Mok-dong, Yangcheon-gu, Seoul. They restructured the menu and revamped online channels, achieving about a 23% increase in sales compared to the month before consulting through marketing efforts.