Hanbin-Kakao Enter Collaborate on AI Technology (Update)

[Image source=Yonhap News]

[Asia Economy Reporter Kim Eunbyeol] The Bank of Korea and Kakao Enterprise announced on the 23rd that they have signed a business agreement to collaborate on artificial intelligence (AI) technology. This is the first case of collaboration with an external organization to apply digital new technologies, following the Bank of Korea's announcement of its "Mid-to-Long-Term Development Strategy (BOK 2030)" on the 10th, marking its 70th anniversary.

Kakao Enterprise and the Bank of Korea plan to understand new research methods and explore application plans. They intend to expand the scope of collaboration by applying AI not only to business support but also to policy support.

The Bank of Korea stated, "Both institutions have agreed to cooperate in applying AI technology and supporting AI-related technologies to advance the Bank of Korea's operations," adding, "The Bank of Korea plans to establish a research organization for the latest techniques (big data, AI, etc.) in the second half of this year to facilitate collaboration with Kakao Enterprise."

The reason for selecting Kakao Enterprise as a collaboration partner is that Kakao Enterprise plays a leading role in building the AI ecosystem. The Bank of Korea said, "Based on seminars and meetings held so far, Kakao Enterprise has shown the greatest interest in the Bank of Korea's digital innovation," and "it holds numerous AI technologies and patents related to business advancement, such as knowledge-based databases."

Additionally, "Having been spun off as an independent AI-dedicated corporation from its parent company Kakao, decision-making related to collaboration content has proceeded swiftly, and the challenging attitude of its engineers also positively contributed to the signing of the agreement," it added.

This content was produced with the assistance of AI translation services.