BC Card (CEO Lee Dong-myun) announced that it will sign a MOU with Kyung Hee University (President Han Kyun-tae) to utilize big data in various fields and carry out consulting projects in earnest.

The MOU was carried out (1) to promote mutual R&D, such as joint research participation and technical guidance, (2) to develop educational programs and establish cooperative models (3) to develop big data industry by interrelated approaches, including consulting to revitalize Kyung Hee University's inner business district and nearby areas.

First of all, the two companies use the payment data held by BC Card to analyze the sales of businesses near universities and other universities that are depressed by the coronavirus. In addition, consulting will be conducted to analyze the characteristics of customers who mainly use the area and to find improvements by writing reports on the average business period by industry.

It will also provide customized start-up reports to students at Kyung Hee University who are considering starting a business by adding reports and card consumption analysis data provided by BC Card on its "Financial Big Data Platform".

Furthermore, the two companies plan to train outstanding professionals through industry-academic cooperation and to promote various education, start-ups and state-run projects using big data through field training and internship education programs.

"Big Data held by BC Card will create a strong synergy with AI and data-related academic capabilities of Kyung Hee University" said Park Sang-bum, head of BC Card's financial platform business division. "We will do our best to prepare more intelligent financial products by continuously strengthening industry-academic cooperation."

"We expect the agreement to upgrade Kyung Hee University's education at the request of the industry and lay the foundation for creating a start-up ecosystem for small business owners," said professor Park Jae-hong, a vice president of Kyung Hee University's LINC+ Business Group. "We believe it will be a good opportunity to realize social values through regional win-win projects and field practices being pursued by Kyung Hee University."