[CJ OliveNetworks, Thu. Jan. 30, 2020] CJ OliveNetworks (Cha In-hyok, CEO) and NIRS (Kim Myoung Hee, President of NIRS) will sign a business agreement to boost the data economy and achieve win-win cooperation between the private and public sectors.

The agreement signing ceremony will be held at CJ OliveNetworks headquarters in Yongsan-gu, Seoul, on January 30, attended by CJ OliveNetworks CEO and NIRS President.

The two organizations will collaborate in analyzing big data using private and public data, share new technologies and analysis related to big data, and seek ways for future development through benchmarking big data platforms and technical exchange. They can also create outcomes from private/public collaboration.

CJ OliveNetworks has high-quality big data that represents the distribution and logistics areas, such as the history purchase and shipment of products collected from CJ brands. The company has developed a solution that predicts process yield or the rate of return for stores through big data analytics.

Thanks to its big data that can be utilized in many ways and unique technologies, CJ OliveNetworks has been leading a crucial role in combining and using private/public data. It has established a platform and a center for big data and participated in a data voucher organized by the National Information Society Agency (NIA).

NIRS has successfully carried out the “Prediction and Analysis of Criminal Risks” of National Police Agency through a business agreement with companies for the people’s benefits and social value.

The two organizations will conclude a business agreement to develop a fire risk prediction model using the Fire Risk Analysis under implementation with Gyeongsangnam-do Province in addition to the data and information about buildings and weather, and energy consumption owned by CJ OliveNetworks.

CJ and NIRS will analyze their collected big data and keep looking for analysis projects and successful cases to solve social issues, and will distribute them nationwide to boost the data economy.

“I think the role of business is important in creating social value using big data,” said Cha In-hyok, CEO of CJ OliveNetworks. “CJ will actively engage in providing innovative services using its technology that collects, analyzes, and processes high-quality data.”

“I expect that big data analytics will be further used with private and public data combined, following the revision of the Personal Information Protection Act,” said Kim Myoung Hee, the President of NIRS. “Through this agreement, we will be more flexible in responding to a rapidly evolving environment and support the government’s policy on data economy and strive to help private businesses create outcomes.”