[Photo] BC Card and Jeju Special Self-Governing Province signed a memorandum of understanding (MOU) to win public-private partnership in ICT new technology areas such as big data. The photo shows BC Card CEO Lee Dong-myun (right) and Jeju Governor Won Hee-ryong holding a signing ceremony on the 29th.

BC Card and Jeju Special Self-Governing Province signed a memorandum of understanding (MOU) for public-private co-prosperity in ICT new technologies such as big data.

Through this MOU, BC Card plans to supply card payment data currently supplied to "Jeju Big Data Platform" to Jeju Island investment and contribution institutions and cooperate to establish a data ecosystem base in the region.

Based on various public data such as tourism, transportation, welfare, and the environment held by Jeju Island and its affiliated organizations, and full-fledged convergence between the largest payment data held by BC cards in Korea, this will directly lead to the improvement of the welfare of provincial residents.

For example, Jeju Island is inevitable to increase shipping charges when making online purchases due to its location. However, if small business owners in the region use the item data that provincial residents purchase at the expense of surcharges, they can directly procure the items to innovate the distribution stage, as well as reduce the delivery burden of provincial residents and revitalize the local economy.

In addition, BC Card's payment data can be used to enhance objectivity in analyzing the effectiveness of public policies and to support optimal decision making on future policy directions.

According to a collaborative analysis by the Jeju Provincial Government Digital Convergence Division and BC Card Big Data Center, stimulus checks used from May to October this year were effective in revitalizing Jeju's commercial districts. In fact, about 60% of Jeju Island's stimulus checks were used at small and medium-sized small businesses. Thanks to this, the proportion of sales of small and medium-sized small businesses in the province increased by more than 20% points compared to the average from April this year.

In addition, BC Card's payment data could be used to more effectively prepare quarantine and public support measures for commercial and indoor hubs that are relatively hit by the spread of COVID-19.

Meanwhile, BC Card, along with Jeju Island, plans to strengthen the competitiveness of companies in the province related to new technologies such as big data and continue to seek joint cooperation measures to solve various social problems based on data synergy.