Thursday, 28th September 2023

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Kookmin Bank, real estate analysis and forecasting become more sophisticated… Opening of AI-based ‘KB Real Estate Big Data Center’

KB Kookmin Bank (CEO Jae-geun Lee) announced on the 2nd that it opened the ‘ KB Real Estate Big Data Center’ to improve real estate data competitiveness .

Based on the latest data technology, Kookmin Bank has completed the development of the ‘ KB Apartment AVM’ ( Automated Valuation Model ) , which combines real estate big data and AI modeling techniques with the know-how in real estate statistics accumulated over the past 36 years, and has completed this year’s They announced that they plan to launch the service in the second half of the year. The opening of Kookmin Bank’s real estate big data center is to strengthen its capabilities as a real estate data specialist organization by integrating market research, AVM development and operation, housing statistics, and commercial real estate investment index business organizations that were previously operated separately. Kookmin Bank organized the center with experts in various fields, including data analysis, DB operation, AI modeling, and market 먹튀검증analysis, as well as internal experts who have been in charge of real estate market and statistical research for a long time. In particular , Center Director Lee Jong-ah (Ph.D. in Real Estate), who oversees the KB Real Estate Big Data Center ,

He served as a research fellow in the field of real estate market analysis and real estate finance at the Financial Holding Management Research Institute, and is a real estate expert with practical experience in developing and operating KB Marketplace in 2002 .

With the opening of the center, Kookmin Bank plans to improve the quality of existing data such as KB real estate market prices and statistics, and expand its data business by discovering new data and applying technology.

According to Kookmin Bank, it has been publishing the KB Housing Price Trend Survey since 1986, during the time of the former housing bank, and it is the real estate statistics with the longest time series in Korea. It consists of a total of 72 detailed statistics and is widely used as an indicator to understand housing market trends. KB Market Price , which provides sales, lease, and monthly rent price information for more than 22,000 complexes and 70,000 housing types nationwide, is used by most domestic financial institutions as the standard price for apartment collateral evaluation.

Kookmin Bank announces not only housing-related statistics but also commercial real estate-related indices, and developed the ‘ KB Real Estate Investment Index’, which consists of officetel statistics and office investment index. We plan to continue to expand the development of investment indices related to commercial real estate, including small and medium-sized buildings and commercial complexes.

KB Kookmin Bank Lee Jong-ah KBThe head of the Real Estate Big Data Center said, “Our goal is to grow into a professional organization that provides all information on real estate that is most trusted in the market,” adding, “We will increase transparency in the real estate market by making it easy for anyone to utilize objective real estate information, and increase the transparency of the real estate market and related industries such as proptech.” “We will continue to contribute to development,” he said.

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