FPT and Shinhan Bank Sign MOU to Expand Cooperation in Digital Finance and Next-Generation Technologies

Photo of the FPT-Shinhan Bank MOU signing ceremony. Jung Sang-hyuk, President of Shinhan Bank (center left), Nguyen Van Hoa, CEO of FPT Group (center right)

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FPT has signed a memorandum of understanding (MOU) with Shinhan Bank, focusing on expanding cooperation in digital finance, the startup ecosystem, and strategic technology sectors.

This agreement was arranged as part of efforts to strengthen economic cooperation between the two countries during the Vietnam-Korea Business Forum held in Hanoi. The two companies plan to combine the innovation ecosystems of Korea and Vietnam based on artificial intelligence (AI) technology and seek opportunities for joint collaboration.

The core of this partnership is the combination of Shinhan Bank’s financial expertise and FPT’s capabilities in digital transformation (DX) and AI technology. Both parties have agreed to leverage AI and big data technologies to accelerate solution development and identify joint innovation opportunities for creating digital value. The scope of collaboration also includes next-generation strategic fields such as semiconductors, quantum technology, and future mobility.

The two sides will also serve as a platform to support Korean and Vietnamese startups in entering each other’s markets. Through initial settlement support and local network connections, they aim to lay the groundwork for startups to commercialize their ideas and to strengthen the digital finance capabilities of both countries.

Ha Minh Tuan, CEO of FPT Korea, noted that the Korean financial sector is actively adopting AI and investing in next-generation industries. He explained that, in collaboration with Shinhan Bank, FPT will build an AI-driven digital finance model and connect the innovation ecosystems of both countries. He added that this partnership will serve as an opportunity to accelerate joint growth driven by technology.

Jung Sanghyeok, President of Shinhan Bank, mentioned that Vietnam has emerged as a key hub in the global supply chain and stated that Shinhan Bank will serve as a partner to support the local expansion of Korean companies and to innovate financial models by collaborating with local partners.

FPT and Shinhan Bank have been collaborating in the field of digital banking and fintech solutions since 2018. The scope of cooperation has since expanded to the entire Shinhan Financial Group, with FPT supporting Shinhan Life's operational efficiency and intelligent transformation using AI and Internet of Things (IoT) technologies.

Having entered the Korean market in 2016, FPT has expanded its business by providing IT services to major conglomerates. The company has established bases in Seoul, Pangyo, and Daegu, and has secured both local staff and overseas engineers to provide key services such as enterprise resource planning (ERP). FPT reports that it possesses the capability to support digital banking transformation and the development of new business opportunities, based on its specialized technology in the financial sector.

This comprehensive partnership between leading companies from both countries is expected to mark a pivotal turning point in setting the global standard for digital finance and securing future technological competitiveness.

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