Songpa-gu Signs Data Utilization Agreement with KB Kookmin Bank and KB Kookmin Card on February 28
Analyzing Financial Status of Small Business Owners, Household Income, and Consumption Patterns to Prepare Support Measures
Seo Gang-seok, Mayor of Songpa-gu (right), encouraging merchants while visiting a traditional market
Songpa-gu (District Mayor Seo Gang-seok) is joining forces with KB Kookmin Bank and KB Kookmin Card (hereinafter referred to as the two institutions) to revitalize the local commercial district by utilizing big data.
To this end, the district signed a business agreement with the two institutions on the 28th of last month.
According to the agreement, the three parties will jointly utilize data over the next year to conduct ▲ analysis of Songpa-gu's local economy and residents' consumption patterns ▲ support data-driven policy decision-making ▲ establish and expand public-private data cooperation models.
In particular, the district plans to establish more precise administrative policies through analysis of the financial status of small business owners in the area, income by household, and consumption patterns.
Through this, the district expects to prepare customized data-driven policies in various fields such as startup support, commercial district revitalization, and residential environment improvement, and provide highly effective support measures.
Additionally, the district plans to actively utilize a comprehensive analysis of the local economic impact of representative local festivals such as the Cherry Blossom Festival and the Hanseong Baekje Cultural Festival in strategies for the development of the culture and tourism industry.
Prior to this agreement, the district had been conducting customized local economic analysis in cooperation with the two institutions since last year.
They diagnosed the Jamsilsaenae Station commercial district, which had lost vitality, and proposed the need for restructuring the business sector and establishing a financial safety net. They also analyzed the Songpa-daero commercial district in relation to the district’s key project, the ‘Songpa-daero Walkable Street Garden Creation Project,’ to examine the impact of pedestrian environment improvements on linking commercial districts.
Marking this agreement as a turning point, the district plans to further strengthen its digital administrative capabilities and promote more systematic data-driven policies in major projects.
Furthermore, when utilizing financial data, the district will strictly comply with the Personal Information Protection Act by implementing de-identification and anonymization to establish a safe data management system.
Seo Gang-seok, Mayor of Songpa-gu, stated, "This agreement is an important turning point for Songpa-gu to develop practical policies that residents can feel through data-driven administration. We will do our best to provide more sophisticated administrative services through public-private cooperation and lead the development of the local economy."
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