Korea Credit Guarantee Fund, Busan Economic Promotion Agency, and Busan Technopark Participate
Utilized for Economic Policy Development, Selection of Policy Support Targets, and Effectiveness Analysis
The Busan Metropolitan Government has introduced BASA, an artificial intelligence (AI) and big data-based company analysis system, to actively support the discovery and growth of promising businesses.
On the morning of May 15, at the International Protocol Room of Busan City Hall, the city announced that it had signed a business agreement on the use of the AI and big data-based company analysis system with Korea Credit Guarantee Fund, Busan Economic Promotion Agency, and Busan Technopark.
Mayor Park Hyungjoon, Korea Credit Guarantee Fund Chairman Choi Wonmok, Busan Economic Promotion Agency President Song Bokcheol, and Busan Technopark President Kim Hyunggyun attended the signing ceremony.
BASA is a system developed by combining the corporate database and credit evaluation expertise accumulated by Korea Credit Guarantee Fund with AI and big data technologies. It features the ability to search information on 1.4 million companies nationwide, calculate company evaluation ratings, conduct AI-based in-depth management diagnostics, and analyze commercial districts for small business owners.
The city plans to utilize BASA for developing strategies to nurture promising companies, ensuring objectivity in selecting policy support targets, and analyzing policy effectiveness and feedback. Busan Economic Promotion Agency and Busan Technopark will also incorporate the system into their respective operations.
Local small and medium-sized enterprises and small business owners can receive customized diagnostic opinions, recommendations for improvement, and objective analysis reports on their own business conditions through BASA.
The city expects that, with this agreement, it will be able to accelerate the innovative growth of small and medium-sized enterprises and the transition to future industries by combining the policy finance expertise of Korea Credit Guarantee Fund with regional data assets. It also plans to link support for promising companies, startup and venture company nurturing funds, and future industry transition funds.
Park Hyungjoon, Mayor of Busan, stated, "Today's agreement will mark a new turning point in supporting small and medium-sized enterprises and small business owners," adding, "We will further expand data-driven administration by cooperating with various public and data-specialized institutions."
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