KB Financial Group said on April 5 it held a briefing on April 3 at KB Kookmin Bank's new building in Seoul's Yeouido to revitalise local economies and strengthen support for small merchants through its KB Commercial District Revitalisation Index.

The briefing was organised to share a commercial district analysis model jointly developed by KB Kookmin Bank, KB Kookmin Card and Korea Data Bank, and to introduce cases of policy and service applications using it.

The KB Commercial District Revitalisation Index is a model that comprehensively analyses customer flows to commercial districts, small merchants' business conditions and changes in local commercial areas. It was designed to identify the status of commercial districts by region by linking about 50 datasets, including KB Financial's financial data with commercial district evaluation indicators, purchaser characteristics, sales patterns, and business openings and closures.

The briefing shared an introduction to KB Financial Data, along with commercial district diagnostics, policy reference materials and real-world application cases using the KB Commercial District Revitalisation Index.

In particular, an analysis of an area that designated all regions as alley-type shopping streets found that inflows of customers from outside increased based on local gift certificates, leading to actual sales growth. Interest was concentrated among officials from local governments, regional credit guarantee foundations and private companies.

KB Financial views such cases as showing the policy effect of bringing demand from outside the region into local commercial districts, and plans to expand data-based cooperation. It is currently conducting joint analysis projects with Chungnam Credit Guarantee Foundation and Suwon Urban Foundation, among others.

A KB Financial official said, "We expect that KB Financial Data and the KB Commercial District Revitalisation Index, based on refined data, will contribute to preparing practical support measures to boost vitality in local commercial districts and among small merchants." The official added, "We will continue to combine financial and data capabilities to help revitalise local economies and support small merchants."