Naver Corporation (CEO: Choi Soo-yeon) and the Bank of Korea (Governor: Lee Chang-yeong) are joining forces to drive innovation in the finance and economy sectors through advanced IT technology.
On December 22, Naver and the Bank of Korea signed a memorandum of understanding (MOU) for business cooperation at the Bank of Korea’s headquarters in Jung-gu, Seoul. The signing ceremony was attended by Naver CEO Choi Soo-yeon and Bank of Korea Governor Lee Chang-yeong.
Under this agreement, Naver and the Bank of Korea will collaborate to integrate their expertise, know-how, and technological capabilities in IT, finance, and the economy. The goal is to expand the application of AI language models into the finance and economy sectors. Additionally, Naver plans to utilize its large-scale AI, ‘HyperCLOVA X,’ to provide nationwide services such as searching, summarizing, and recommending various data held by the Bank of Korea.
Furthermore, Naver and the Bank of Korea will collaborate on incorporating advanced IT technologies such as AI, big data, IoT, and cloud into their operations to enhance productivity.
Naver CEO Choi Soo-yeon stated, “Through mutual cooperation between Naver, at the forefront of IT and platform technology, and the Bank of Korea, at the forefront of the finance and economy sectors, we will strive for new technological innovations. We aim to develop services that are more convenient for people.”
Bank of Korea Governor Lee Chang-yeong expressed expectations, saying, “In the current situation where the astonishing development of digital technology is accelerating the transition to a digital economy, we anticipate that Naver’s IT capabilities will further strengthen the Bank of Korea’s policy and research capabilities, enhancing the quality of nationwide services.”
It is worth noting that on November 24, Bank of International Settlements (BIS) General Manager Agustín Carstens and Bank of Korea Deputy Governor Yoo Sang-dea visited Naver 1784 in Pangyo Techno Valley, Gyeonggi Province.
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