NH Nonghyup Bank to Support Small Business Owners Using AI Big Data

Signing MOU with Seoul Credit Guarantee Foundation
Detailed Analysis of Consumption Patterns and Commercial District Changes by Administrative District

NH Nonghyup Bank is set to support small business owners by leveraging artificial intelligence (AI) big data.

On the 22nd, at NH Nonghyup Tower in Jongno-gu, Seoul, Jushik Kim, Executive Vice President of the AI Data Division at NH Nonghyup Bank (left), and Hangdo Choi, Chairman of Seoul Credit Guarantee Foundation (right), posed for a commemorative photo after signing the "Business Agreement to Promote Support for Small Business Owners Based on AI Big Data Exchange." NH Nonghyup Bank

On June 23, NH Nonghyup Bank announced that it had signed the 'AI Big Data Exchange-Based Small Business Support Activation Memorandum of Understanding (MOU)' with the Seoul Credit Guarantee Foundation at NH Nonghyup Tower in Jongno-gu, Seoul, to expand support for small business owners in Seoul.

NH Nonghyup Bank, which possesses card transaction, banking deposit and loan, and Nonghyup Hanaro Mart retail consumption data, and the Seoul Credit Guarantee Foundation, which has been operating a data-based commercial district analysis business, have joined forces to strengthen a customized support system for small business owners.

Through this agreement, the two organizations plan to conduct joint research and precisely analyze consumption patterns and changes in commercial districts by administrative districts in Seoul. In addition, based on the analysis results, they will develop a tailored business management diagnosis model for small business owners to comprehensively assess commercial districts in each region and support the activation of data-based administration by local governments.

NH Nonghyup Bank President Kang Taeyoung stated, "Through this agreement, we hope that small business owners, many of whom are facing significant difficulties, will have the opportunity to utilize more sophisticated big data on commercial districts," adding, "We will continue to share the value of financial data with society and expand practical data-driven support measures."

This content was produced with the assistance of AI translation services.