BC Card attended the opening ceremony of the Busan Financial Big Data Platform Lab held at the Busan International Finance Center on September 23rd. (From the right side of the picture) The photo shows Lee Kang-hyuk Vice President of BC Card, Park Sung-hoon Deputy Mayor of Busan City, Moon Yong-sik President of the Korea Information Society Agency, and Jang Deok-hyun Director of Pusan National University.

BC Card (CEO Lee Dong-myun) announced that it has established a "Financial Big Data Platform Lab" in the Busan area and held an opening ceremony to successfully promote the government-led digital New Deal project.

The opening ceremony took place at the Busan International Finance Center at 4 p.m. on the September 23rd, was attended by officials including BC Card Vice President Lee Kang-hyuk, Busan City Deputy Mayor Park Sung-hoon, Korea Information Society Agency President Moon Yong-sik, and Pusan National University's Director Jang Duk-hyun.

Building a big data platform is a key task for the government-led digital New Deal project (also known as 'Data Dam project') and BC Card was finally selected as a host company for the financial platform in May last year, as a result of a public offering by the Ministry of Science and ICT and the Korea Information Society Agency to promote the 'building of a big data platform and center' project in 10 sectors¹.

Currently BC Card has operating 'Seoul Financial Big Data Platform Lab' in Eulji-ro, Seoul from last December, and is taking the lead in supporting big data popularization and start-ups through various data analysis such as online consumption analysis by purchase item, support for design of new urban planning using consumption data in apartment areas, and upgrading the electricity rate management system through analyzing apartment management rate data.

Through the newly established Busan Financial Big Data Platform Lab, Busan city will be able to receive the same usage environment and support as the Seoul-based Financial Big Data Platform Lab.

BC Card plans to continue to expand its regional-based platform lab to support startups and big data consumers located outside of the capital area.

"With the implementation of the three Data Acts, we will be able to provide high-quality information through the usage of various corporate data that could not be utilized before," said Lee Kang-hyuk, vice president of marketing department at BC Card. "We will contribute to vitalizing and innovating the big data ecosystem so that consumers can utilize big data more diversely through the Big Data Platform Lab."

Meanwhile, a total of 11 companies including BC Card, KT(Korea Telecom), Nielsen Company Korea, and Vibe(formerly DaumSoft) are participating in the "Financial Big Data Platform Lab" and supplying new data to the market² through the convergence of financial data such as card consumption, insurance coverage/subscription, and non-financial data such as floating population and real estates.

¹ 10 Sectors : finance, environment, culture, transportation, healthcare, distribution, telecommunications, small and medium-sized business(SMBs), local economy, and forest.

² 2,358 private members, 169 corporate members as of August, 2020.