[Provided by Guro-gu]
[Provided by Guro-gu]

Guro-gu signed an MOU with the Seoul Credit Guarantee Foundation on Wednesday to cooperate on big data-based support for local commercial districts and small business owners, the district office announced Thursday.

The agreement aims to use data on consumer spending, sales and foot traffic to analyze the current state and shifts in local commercial districts in greater detail, and to apply those findings to the development of small business support policy.

Under the MOU, the two institutions will share big data related to small businesses in Guro-gu and work together to develop tailored support policies to revitalize neighborhood economies. The Seoul Credit Guarantee Foundation will analyze the relevant data and propose customized policies for the district. Guro-gu plans to incorporate the analysis and recommendations into its small business support policy.

"We expect this to help us identify the characteristics and policy needs of each commercial district by tracking changes in consumer spending, sales and foot traffic through objective data," a district official said. In practice, the Seoul Credit Guarantee Foundation has worked with other autonomous districts to provide commercial district information at the administrative neighborhood level, and has analyzed how surrounding commercial areas change in response to developments such as new public parking facilities, youth housing supply and the designation of alley-type shopping streets. Guro-gu also plans to draw on big data analysis in response to local issues and policy needs going forward.

"Accurately understanding changes in local commercial districts requires objective data alongside voices from the scene," Guro-gu District Mayor Jang In-hong said. "We will use this MOU as an opportunity to closely analyze the characteristics and needs of each commercial district and develop policies that offer real, practical help to small business owners."


cook@heraldcorp.com