Dongdaemun District and Seoul Credit Guarantee Foundation to Provide Customized Support for Small Businesses Using Commercial District Big Data

Agreement Signed: Linking Commercial District Analysis with Policy Initiatives

On January 20, Dongdaemun District Office (District Mayor Lee Pilhyung) announced that it had signed a "Data-Driven Administrative Activation and Small Business Support Cooperation" business agreement with the Seoul Credit Guarantee Foundation (Chairman Choi Hangdo) on the 19th to provide customized support for small businesses based on big data. The aim is to improve the accuracy of support for local commercial districts by supplementing on-site feedback with data-driven insights amid the ongoing economic downturn.

Dongdaemun District Office (left, Lee Pilhyung, District Mayor) signed a business agreement with the Seoul Credit Guarantee Foundation on the 19th. Provided by Dongdaemun District Office.

The Seoul Credit Guarantee Foundation will provide multidimensional data on commercial districts, including sales analysis by industry, floating population, number of stores, business opening and closure rates, and rent levels, and will propose policies based on the analysis results. Dongdaemun District plans to use this data to identify the causes and pace of changes in commercial districts and to implement timely policies in areas that require support.

Through the "Small Business Big Data Repository (S-data Dam)" platform established by the Seoul Credit Guarantee Foundation, Seoul’s commercial district analysis data will be processed, refined, stored, and distributed for use by Dongdaemun District. The goal is to create a structure in which data is continuously accumulated and fed back into policy, rather than relying on one-time analyses.

Following the agreement, the district will regularly monitor sales and floating population trends by commercial district, as well as signs of industry restructuring, and will consider proactive support in areas experiencing sharp increases in business openings or closures or significant rent fluctuations. The effectiveness of support programs will also be reassessed using indicators such as sales, foot traffic, and survival rates, thereby strengthening the "pre-diagnosis-implementation-post-verification" system. For areas with different characteristics, such as traditional market clusters, university-area commercial districts, and residential neighborhood commercial zones, the district will use data to design "customized solutions for each neighborhood."

Lee Pilhyung, Mayor of Dongdaemun District, stated, "By supplementing on-the-ground experience with data-driven evidence, we will enhance both the speed and accuracy of support for small businesses," adding, "We will establish a system that can detect early signals of change in commercial districts and ensure that necessary policies are implemented in a timely manner."