Kookmin Bank and Korea MS Form Business Partnership to Promote Data and AI Activation

Collaboration to Improve Business Models Using Data and AI New Technologies

KB Kookmin Bank and Microsoft Korea have signed a 'Strategic Partnership for New Technology Development and Digital Ecosystem Expansion Using Data and Artificial Intelligence (AI).' (Left) Huh In, President of KB Kookmin Bank, and (Right) Lee Ji-eun, CEO of Microsoft Korea.

[Asia Economy Reporter Sunmi Park] KB Kookmin Bank and Microsoft Korea announced on the 13th that they have signed a strategic partnership to develop new technologies using data and artificial intelligence (AI) and to expand the digital ecosystem.

Through this agreement, they will jointly promote various projects including ▲business collaboration utilizing new data and AI technologies ▲providing cloud services and technical education support to domestic startups ▲digital competency enhancement training for KB Kookmin Bank employees.

First, KB Kookmin Bank and Microsoft Korea will collaborate to improve business models using new data and AI technologies. The development of new technologies will be operated based on Microsoft’s cloud platform Azure, and the latest data and AI analytics technologies provided by Microsoft will be applied.

Additionally, they will work together to support domestic startups and strengthen employee capabilities. Selected companies among promising startups ‘KB Starters’ active at the KB Innovation Hub Center will receive support for cloud utilization, investor connections, and overseas market entry. Furthermore, an educational program for digital transformation of KB Kookmin Bank employees will also be promoted.

Huh In, CEO of KB Kookmin Bank, said, “We have high expectations for cooperating with Microsoft Korea, which is leading the expansion of the domestic data, AI, and cloud ecosystem,” adding, “We hope this partnership will become a foothold for KB Kookmin Bank’s transition to the number one financial platform.”

Lee Ji-eun, CEO of Microsoft Korea, stated, “We hope this partnership will accelerate the achievement of the goals pursued by both companies and further contribute to the activation of the domestic cloud and AI ecosystem.”