Korea Federation of Community Credit Cooperatives Partners with KODATA to Identify Social Enterprises Through Data

[Financial News] The Korea Federation of Community Credit Cooperatives will expand financial support for social solidarity economy organizations by leveraging corporate data from Korea Rating & Data (KODATA). It also plans to use the data to identify small businesses with growth potential while upgrading its post-monitoring and early-warning systems.
On the 21st, the Korea Federation of Community Credit Cooperatives said it had signed an MOU on database utilization on the 17th at Korea Rating & Data's headquarters in Yeongdeungpo District, Seoul.
The agreement was arranged as part of efforts to promote the "2030 Regional Regeneration and Social Solidarity Finance Package," a task being pursued by the Saemaeul Geumgo Vision 2030 Committee. Under the agreement, Korea Rating & Data will provide its social economy enterprise data, while the Korea Federation of Community Credit Cooperatives plans to use it to operate lending products.
The data will also be used to identify small businesses with growth potential and upgrade post-monitoring and early-warning systems. The federation will also consider an evaluation model that reflects track records in creating social value. Through these efforts, it aims to improve social solidarity economy organizations' access to finance and strengthen credit risk management.
The two organizations also plan to assess the data's practical applicability and expected benefits in their operations, then discuss the specific scope of their cooperation in stages.
[email protected] Lee Hyun-jung Reporter