Upstage-KT Sign Business Agreement for Sustainable Management

On the 27th, Park Jeong-jun, Head of Corporate Customer Division at KT (left), and Kim Seong-hoon, CEO of Upstage, signed a memorandum of understanding for AI-based paperless DX business cooperation for ESG sustainable management.

AI startup Upstage is partnering with KT to expand its B2B business.

Upstage announced on the 28th that it has signed a Memorandum of Understanding (MOU) with KT for an "AI-based Paperless DX Business Cooperation for ESG Sustainable Management."

With the government's introduction of mandatory ESG (Environmental, Social, and Governance) disclosures, companies have begun improving their sustainability practices by minimizing unnecessary document waste through electronic document conversion. Consequently, there has been a surge in demand for paperless solutions that efficiently handle electronic documents and various forms by utilizing Optical Character Recognition (OCR) technology, which reads characters as text data and extracts desired data fields.

Through the MOU, both companies have joined forces in various areas including ▲targeting demand for electronic document conversion and storage related to mandatory ESG disclosures ▲enhancing B2B work efficiency through advancements in AI OCR technology ▲and convergent businesses accelerating digital transformation in the B2B market.

Under this agreement, the two companies will explore opportunities in convergent digital transformation businesses such as automating B2B customer tasks and strengthening cloud-based paperless solutions for mid-sized and small enterprises. They will jointly conduct sales and marketing targeting corporate clients across diverse industries including finance, IT, manufacturing, and distribution. Upstage plans to support KT as an AI technology advisory partner by integrating Upstage OCR within KT’s group digitization workplaces. Upstage’s "Document AI Pack" can process various types of documents with a single click, reducing costs and time by up to 82% compared to traditional manual processing methods.

Kim Seong-hoon, CEO of Upstage, said, “We are pleased to collaborate with KT, Korea’s leading telecommunications company, to promote B2B business using Upstage OCR technology,” adding, “Going forward, Upstage will continue to lead AI innovation for diverse corporate clients based on world-class AI technology.”

Park Jeong-jun, Head of KT’s Enterprise Customer Division, stated, “Through cooperation with Upstage, which possesses global-level technology, we will provide DX across the entire lifecycle of electronic documents?including creation, distribution, and storage?for sustainable ESG management by companies,” and added, “We will strive to accelerate digital innovation in the B2B market through multifaceted collaboration across various industries.”

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