Moon Jae-nam, the representative of the Alternative Credit Assessment, said on the 17th, "We plan to secure additional non-financial data, including affordable phone data, as a starting point for the first anniversary of the Alternative Credit Assessment approval."
The Alternative Credit Assessment is a company jointly established by the three major mobile carriers, SK Telecom, KT, and LG U+, along with SGI Seoul Guarantee Insurance and Korea Credit Bureau (KCB). It has launched the alternative credit assessment service 'Equal.'
Representative Moon noted, "Since its establishment, we have developed an alternative credit assessment model to support approximately 13 million thin filers and financially excluded individuals with insufficient financial transaction histories," adding, "Equal scores the borrower’s reliability and willingness and ability to repay through in-depth and multi-layered analysis of over 2,000 detailed items, including payment history for communication costs, use of family bundle programs, and data usage time and patterns."
He explained, "We have developed a common standardized summary item for the data of the three major telecommunications companies, making it possible for anyone to evaluate credit fairly, regardless of the telecommunications company they use."