The two organizations signed an MOU on Wednesday, agreeing to cooperate on local commercial district analysis and policy proposals. They will share and analyze data on consumer spending, sales and foot traffic to develop tailored support policies for small business owners.
Guro-gu has teamed up with the Seoul Credit Guarantee Foundation to analyze local commercial districts using big data and strengthen support for small business owners.
Guro-gu signed a "big data-based cooperation MOU for Guro-gu commercial district analysis and small business owner support" with the Seoul Credit Guarantee Foundation on Wednesday at the district office's Creative Hall.
The agreement was designed to enable more detailed analysis of the current state and changes in local commercial districts by drawing on a range of data — including consumer spending, sales figures and foot traffic — and to apply those findings to the development of small business support policies.
Under the MOU, the two organizations will share big data related to small business owners in Guro-gu and work together to develop tailored support policies aimed at revitalizing neighborhood economies. The Seoul Credit Guarantee Foundation will analyze the relevant data and propose customized policies for Guro-gu, while the district plans to actively incorporate the analysis and recommendations into its small business support initiatives.
The arrangement is expected to help officials identify the characteristics of individual commercial districts and design support measures suited to their specific policy needs, as objective data will now make it possible to track changes in consumer spending, sales and foot traffic across different areas.
In practice, the Seoul Credit Guarantee Foundation has worked with other autonomous districts to provide commercial district information at the administrative neighborhood level and to analyze how surrounding commercial areas have changed following developments such as the addition of public parking lots, the supply of youth housing and the designation of alley-type shopping districts. Guro-gu also plans to use big data analysis going forward in response to local issues and policy needs as they arise.
"Accurately understanding changes in local commercial districts requires objective data alongside voices from the scene," Guro-gu District Mayor Jang In-hong said. "Using this MOU as an opportunity, we will closely analyze the characteristics and needs of each commercial district and develop policies that provide genuine, practical help to small business owners."
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