Seoul Credit Guarantee Foundation and NH Nonghyup Bank Combine Data to Bolster Small Business Support

The Seoul Credit Guarantee Foundation (SCGF) and NH Nonghyup Bank are joining forces to enhance support for small business owners by integrating public and private data. This strategic partnership aims to precisely identify the needs of small businesses and develop customized policy solutions.

The collaboration involves combining SCGF's extensive data on credit guarantees and commercial trends with NH Nonghyup Bank's financial data, including information on affiliated merchants and card transactions. This fusion of data will provide a more granular understanding of the business environment and consumer behavior.

SCGF, which operates 25 comprehensive support centers, gathers approximately 20,000 customer consultations monthly, yielding valuable on-the-ground data. NH Nonghyup Bank, with its vast network including Hanaro Mart, possesses rich consumer spending data. By integrating these datasets, SCGF expects to move beyond traditional location and industry-based analysis to incorporate actual consumption patterns into policy development.

"We anticipate that combining public and private data through this agreement will enable a more accurate analysis of the business conditions of small business owners," said Park Jae-yong, head of SCGF's Management Strategy Division. "We will continue to expand various collaborations to provide tailored policies and services that meet the needs of the field."

“

We anticipate that combining public and private data through this agreement will enable a more accurate analysis of the business conditions of small business owners. We will continue to expand various collaborations to provide tailored policies and services that meet the needs of the field.