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FiscalNote Announces Landmark Collaboration With National Assembly of the Republic of Korea to Provide AI-Powered Policy Intelligence, Legislative and Regulatory Tracking, and Issues Management
FiscalNote (NYSE: NOTE) announced a landmark partnership with the National Assembly of Korea, formalized during a signing ceremony in Seoul on December 21, 2022. This collaboration marks the first of its kind between the Assembly and a commercial provider, focusing on AI-driven policy intelligence and legislative tracking. The partnership aims to enhance policy monitoring and explore the development of big data and AI industries. FiscalNote’s CEO, Tim Hwang, emphasized the significance of this collaboration in supporting decision-makers with critical insights.
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First-ever partnership between the National Assembly of Korea and a commercial provider, indicating strong market presence and credibility.
Collaboration focuses on AI-driven policy intelligence, enhancing the service offerings of FiscalNote.
Tim Hwang, CEO, highlights the opportunity to provide essential services to government decision-makers, potentially expanding FiscalNote's client base.
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Partnership is the First Ever Between National Assembly of Korea and a Commercial Provider of Policy & Regulatory Intelligence
National Assembly Secretary General Lee Kwang Jae and FiscalNote’s Tim Hwang Formalize Memorandum of Understanding at Official Signing Ceremony in Seoul
WASHINGTON & SEOUL, South Korea--(BUSINESS WIRE)--
FiscalNote Holdings, Inc. (NYSE: NOTE) (“FiscalNote”), a leading AI-driven enterprise SaaS technology provider of global policy and market intelligence, today announced a milestone collaboration with the National Assembly of Korea in Seoul.
The Secretary General of the National Assembly of Korea, Lee Kwang Jae (L), and FiscalNote Chairman & CEO Tim Hwang (R) announce a landmark partnership between the Assembly and FiscalNote to collaborate on AI-powered policy intelligence, legislative and regulatory tracking, and issues management at a signing ceremony in Seoul on Wednesday, December 21, 2022. (Photo: Business Wire)
Pursuant to the partnership - the first of its kind between the National Assembly and a commercial provider — FiscalNote and the National Assembly will collaborate on the exchange of information and trends related to global and domestic policy and legislation, enhanced by AI-powered analysis, as well as explore measures to develop big data and AI industries.
Tim Hwang, FiscalNote’s Chairman, CEO, and Cofounder - a second-generation Korean American and the youngest Asian American CEO/Co-founder on New York Stock Exchange - attended the official signing of the Memorandum of Understanding in Seoul with the Secretary General of the National Assembly Secretariat, Lee Kwang Jae.
“As a Korean American - and as the youngest Asian American CEO & Cofounder on the New York Stock Exchange — it is a great honor to work with the Korean National Assembly to provide this esteemed institution, its staff, and its members with policy monitoring and issue tracking services that will enhance its effectiveness, knowledge, and ability to govern in a policymaking environment which is increasingly complex, fast-moving, and impactful,” said FiscalNote’s Hwang. “This landmark, first-of-its-kind partnership in Korea demonstrates how FiscalNote serves as an essential partner to the world’s most important decision-makers, especially those in the public sector, whose institutions and democratic assemblies and parliaments rely on our AI-enabled products and services to deliver critical policy and regulatory information, tracking, updates, and news through our award-winning SaaS platforms.”
“In the global era, we need to create a system that allows us to see trends in overseas legislation affecting Korea at a glance, such as the U.S.’s Inflation Reduction Act (IRA),” said the National Assembly’s Lee Kwang Jae. “I hope this Memorandum of Understanding will be the first step toward becoming a global National Assembly that addresses foreign information.”
Public sector entities and parliamentary institutions around the world have turned to FiscalNote to provide policy management and issues tracking, AI- and data-driven insights and advisory services, and geopolitical and market intelligence — including the European Parliament, the U.S. Congress, and the Executive Office of the U.S. President, among many others — to help ensure government stakeholders and decisionmakers never miss an essential inflection point in policy developments.
Today’s announcement follows FiscalNote’s other recent agreements, acquisitions, and partnerships in Korea, reinforcing its expanding presence and momentum in this market. On August 25, 2022, the company unveiled a groundbreaking new partnership with Shinhan Card — Korea’s largest credit card company and consumer finance leader — to leverage FiscalNote’s alternative data, AI, and ESG Solutions offerings to provide customers with unique data sets to drive actionable results and power business decisions and outcomes. On August 1, 2022, the company announced the completion of its acquisition of Aicel Technologies, a rapidly-growing alternative data company based in Seoul which provides proprietary alpha-capturing datasets and extracts unique value and actionable insights to drive critical and timely business solutions for global financial markets. The combination of Aicel and the company’s existing Datahunt offering has now established FiscalNote’s Seoul office as its largest in the world outside the U.S., as well as its key tech hub and gateway to pursue further opportunities in the APAC region.
About FiscalNote
FiscalNote (NYSE: NOTE) is a leading technology provider of global policy and market intelligence. By uniquely combining AI technology, actionable data, and expert and peer insights, FiscalNote empowers customers to manage policy, address regulatory developments, and mitigate global risk. Since 2013, FiscalNote has pioneered technology that delivers mission-critical insights and the tools to turn them into action. Home to CQ, Equilibrium, FrontierView, Oxford Analytica, VoterVoice, and many other industry-leading brands, FiscalNote serves more than 5,000 customers worldwide with global offices in North America, Europe, Asia, and Australia. To learn more about FiscalNote and its family of brands, visit FiscalNote.com and follow @FiscalNote.
What is the significance of FiscalNote's partnership with the National Assembly of Korea?
The partnership is significant as it is the first-ever collaboration between the National Assembly and a commercial provider, enhancing policy intelligence and tracking capabilities.
When was the Memorandum of Understanding signed between FiscalNote and the National Assembly of Korea?
The Memorandum of Understanding was signed on December 21, 2022.
How does this partnership impact FiscalNote's business strategy?
This partnership enhances FiscalNote's service offerings in the public sector, potentially leading to increased engagement with government institutions.
What role does AI play in FiscalNote's collaboration with the National Assembly?
AI will be utilized for policy intelligence and legislative tracking, providing enhanced analytical capabilities for decision-makers.
