KB Kookmin Card has become the first Korean card issuer to apply Corporate Public MyData to corporate card issuance. The immediate benefit is the removal of paper certificates, but the deeper significance lies in converting administrative records into structured data that financial institutions can process directly. Corporate card competition could increasingly shift from rewards and credit limits to the speed and accuracy of data-driven decisions.
The company said on August 25 that corporate customers will be able to submit the administrative information required for card issuance electronically after completing business authentication and consenting to data transmission. KB Kookmin Card will use six data sets—five held by the National Tax Service and one by the Ministry of SMEs and Startups—to verify corporate status and financial information.
The system reduces the burden on companies while eliminating much of the manual verification, data entry and document storage required at sales offices. More importantly, it creates a digital foundation that could eventually support faster renewals, limit reviews and risk monitoring.
Where public records meet payment data
Corporate Public MyData allows a company to request that information held by government and public institutions be transmitted to itself or a designated organization. Businesses can access more than 70 types of administrative records, including business registration, tax payment and standardized financial statement information. KB Kookmin Card is beginning with the six data sets required for corporate card issuance.
Public records are reliable indicators of a company’s legal, financial and tax status, but they largely describe events that have already occurred. Card data can provide a more immediate view of sales, costs, transaction frequency and changes in industry or regional activity. Public data establishes a company’s official history; payment data can reveal its current operating momentum.
Combining the two—subject to corporate consent and strict limits on use—could reduce the information lag in SME credit assessment. Annual financial statements alone may not capture a business whose revenue is rising or falling rapidly. Adding payment and sales flows can provide a more current view of repayment capacity and business continuity.
KB Kookmin Card already operates Credit Tree, an alternative credit assessment service for sole proprietors that draws on merchant sales, commercial district competitiveness and corporate credit information. Corporate Public MyData provides a potential foundation for extending that experience to incorporated businesses.
The company, however, has so far limited the new service to simplifying corporate card issuance. It has not announced plans to use the six public data sets directly in credit scoring or limit calculations. The distinction is important: the present change is operational, while its expansion into credit assessment remains a strategic possibility.
From corporate cards to supply chain finance
The long-term value of Corporate Public MyData could extend beyond faster issuance. If financial institutions can assess sales trends, tax status and transaction stability more accurately, they may be able to identify promising younger companies that lack collateral or extensive borrowing histories. This would help narrow the corporate credit gap between the strength of a business and the limited information visible to traditional lenders.
Corporate cards could also become an entry point for supply chain finance, connecting purchasing, settlement, working capital and credit assessment. Combining verified public records with transaction flows between large companies and suppliers would allow financing to be structured around actual commercial activity rather than relying mainly on the borrower’s collateral.
The next step is to improve the quality of assessment, not simply increase the volume of data. Reliable models must distinguish genuine deterioration from industry transitions, investment-driven spending or seasonal revenue fluctuations. Giving companies a way to review the information used and correct errors would further strengthen confidence in the process.
KB Kookmin Card’s adoption of Corporate Public MyData begins with simpler documentation but opens a broader path toward data-driven corporate finance. Its long-term value lies in using public records and payment data to identify the business strength and growth potential of companies that remain underserved by conventional credit assessment.
