Korea Credit Data (KCD), which operates the business management service ' Cash Note ', and the Gyeonggi Market Promotion Agency (Gyeongsangwon) announced that they have signed a memorandum of understanding (MOU) to strengthen support for small business owners in Gyeonggi Province.
This agreement marks the first official collaboration between the Gyeonggi Provincial Government and the Korea Centers for Disease Control and Prevention (KCD). It aims to enhance the effectiveness of Gyeonggi Province's traditional market small business support policies by combining private data and public infrastructure and to promote various collaborative projects. Through this agreement, the two organizations will collaborate on: 1) operating small business support programs through data exchange; 2) cooperating on support projects such as increasing small business sales and consulting; and 3) promoting and supporting the operation of small business support programs.
The Gyeonggi Provincial Economic Council (Gyeonggi-do Economic Council) was established to revitalize the local economy by strengthening the self-reliance of small businesses and traditional markets in Gyeonggi Province. It is pursuing various initiatives to revitalize commercial districts, including consumption-boosting programs like the "Gyeonggi Revitalization Big Sale," a comprehensive support platform for small businesses called "Gyeonggi Baro," and business environment improvement projects.
Based on this agreement, KCD plans to support more objective and precise analysis of the performance of large-scale support projects by leveraging data that can be analyzed down to the industry and individual store levels. Korea Credit Data has enhanced its expertise in policy consulting for small businesses by providing data-driven reports to local governments and institutions, contributing to bridging the gap between early-stage small business owners and diverse generations. Furthermore, through rapid data and time-series analysis, KCD has enabled consistent insights into changes in commercial districts and the small business management environment. This has also enhanced the effectiveness of policymaking and support program operations.
Kim Dong-ho, CEO of Korea Credit Data, said, “The business agreement with the Gyeongsang National University is an important first step toward increasing the effectiveness of data-based support policies for small and medium-sized businesses in traditional markets in Gyeonggi Province.” He added, “KCD will provide practical assistance to small and medium-sized businesses in Gyeonggi Province by combining private data and public infrastructure, and further develop a cooperation model that can be expanded to small and medium-sized businesses nationwide.”
Kim Min-cheol, director of the Gyeonggi Market Promotion Agency, said, “This agreement is a meaningful collaboration between the private and public sectors to strengthen the self-reliance of small business owners and traditional markets in Gyeonggi Province.” He added, “We will utilize Korea Credit Data’s data capabilities to objectively verify policy effectiveness and strengthen field-centered support.”
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