Shinhan Card and Korea Development Institute (KDI) will start research on national development through data cooperation.
Shinhan Card announced on October 3 that it has signed a "data-based national development research business agreement" with KDI.
The signing ceremony was held at the Shinhan Card headquarters in Euljiro, Seoul, with the participation of KDI President Hong Jang-pyo, Shinhan Card President Lim Young-jin, and other officials.
Based on Shinhan Card's vast consumption data and KDI's unrivaled data analysis and research capabilities, the two institutions are expected to raise the level of research for national development to the next level and participate in various national policy studies.
As a priority task, they plan to conduct national development research closely related to social issues, such as research on the effects of COVID-19 and national disaster subsidies and research on industrial structure changes through analysis of delivery app consumption data.
In addition, the two institutions plan to strengthen data-based research and continue cooperation in discovering new indicators by utilizing the monthly average of 350 million Shinhan Card consumption data of 27.5 million customers for national development research related to various economic and social fields.
Shinhan Card President and CEO Lim Young-jin said, "We will do our best to serve as a catalyst for revitalizing the data economy in Korea in connection with Shinhan Financial Group’s new vision, 'Easier, more comfortable, and newer finance'."
Meanwhile, Shinhan Card has been carrying out about 450 projects targeting 170 public institutions and private companies.
