LG Uplus (032640.KS), a major Korean telecom operator, has partnered with IBK System to develop artificial intelligence services optimized for the financial sector.
LG Uplus and IBK System signed a memorandum of understanding on "business cooperation for finance-specific AI" at IBK System's headquarters in Jung-gu, Seoul, on Sunday, the companies said Monday.
Under the agreement, the two companies will combine LG Uplus's AI technology with IBK System's financial domain expertise to develop finance-specific AI services. The AI will be implemented as agent-based solutions applicable to real-world financial operations, including credit screening and financial support platforms for small business owners. The partnership is expected to enhance both operational efficiency and security levels for financial institutions.
LG Uplus's business-to-business AI transformation (B2B AX) platform will be used to develop the finance-specific AI services. The platform is an intelligent work innovation system equipped with an optimized model based on EXAONE, a hyperscale generative AI developed by LG AI Research. The platform integrates core functions required for AI agent implementation, offering them as a comprehensive package.
The two companies aim to expand cooperation beyond simple technology application toward structural innovation across the entire financial services industry. To this end, they agreed to collaborate on multiple fronts, including: △joint planning and business cooperation for financial services, △discovery of new business models, △commercialization and joint marketing of financial sector service products, and △pursuit of next-generation intelligent finance initiatives.
"If LG Uplus's AI technology is combined with the financial business expertise and data utilization capabilities that IBK System has accumulated over a long period, we can create meaningful synergies that lead innovation across the entire financial industry, going beyond simple technology cooperation," said Kwon Yong-hyun, executive vice president and head of the enterprise division at LG Uplus. Hyun Kwon-ik, CEO of IBK System, said, "This agreement is highly significant in that it organically combines the leading capabilities of both companies to set a new milestone in the next-generation intelligent finance market," adding, "The two companies will become reliable partners providing the highest level of AI-based IT services to customers."