Naver and Bank of Korea Join Forces to Harness Super Large AI... Combining Efforts for Financial Innovation

Naver and the Bank of Korea join forces to innovate the finance and economy sectors through IT technology.

On the 22nd, Naver and the Bank of Korea signed a business agreement ceremony at the Bank of Korea located in Jung-gu, Seoul. The ceremony was attended by Naver CEO Choi Soo-yeon and Bank of Korea Governor Lee Chang-yong, among others.

On the 22nd, Naver and the Bank of Korea signed a business agreement ceremony at the Bank of Korea located in Jung-gu, Seoul.
[Photo by Naver]

According to the business agreement, Naver and the Bank of Korea will combine their expertise, know-how, and technological capabilities in IT and the finance and economy sectors. They will collaborate to expand the application scope of artificial intelligence (AI) language models into the finance and economy fields. Using Naver's large-scale AI 'HyperCLOVA X,' they plan to provide a public service that searches, summarizes, and recommends various data held by the Bank of Korea.

Naver also agreed to cooperate on ways to enhance productivity by integrating advanced IT technologies such as AI, big data, Internet of Things (IoT), and cloud computing into the Bank of Korea's operations.

CEO Choi said, "Naver, at the forefront of IT and platform technology, and the Bank of Korea, at the forefront of the finance and economy sectors, will strive to achieve new technological innovations in finance and economy through mutual cooperation and further develop services that the public can use more conveniently."

Bank of Korea Governor Lee Chang-yong stated, "In a situation where the transition to a digital economy is accelerating, I expect that through Naver's IT capabilities, the Bank of Korea's policy and research capabilities will be further strengthened, and the quality of public services will be improved."

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