[AI Revolution](66) Complex Contracts Simplified with AI... 'BHSN' Chosen by Major Corporations

Development of AI Legal Language Model... Contract Document ChatGPT
From Contract Creation to Storage and Execution Management
"Leading the Business Document Market"

A ChatGPT for contract documents has emerged, capable of comprehensively managing complex corporate contract paperwork. Legal tech company 'BHSN' is targeting the digital contract management market with its AI contract management solution. Leading domestic conglomerates are rapidly adopting the solution, helping it quickly establish a foothold.

BHSN offers an "all-in-one enterprise AI legal solution" service that integrates and manages all legal processes and data of companies through digital transformation. CEO Lim Jeong-geun, a former corporate lawyer, founded the company in 2020 after advising numerous companies and recognizing the demand for digitalizing contract management. They independently developed the AI legal language model specialized in business documents, 'BHSN-BERT,' in collaboration with AI scholar Professor Jang Byung-tak of Seoul National University's Department of Computer Science (Director of the Seoul National University AI Institute). Using the solution powered by BHSN-BERT, users can review individual contract clauses and get an overview of all contract data a company has signed to date.

Kim Hyung-jun, Chief AI Officer (CAIO) at BHSN

Although all industries are rushing toward digital transformation, domestic contract management systems remain analog. Overseas, many companies such as Evisort, Ironclad, and Juba provide services, but domestically, there has been little change compared to 10 or 20 years ago. For example, to compare contracts signed by Company A and Company B over the past five years, a person must manually sift through five years’ worth of document piles. Sometimes, they rely on Google searches to find necessary information. However, with BHSN’s solution, entering conditions is as simple as using ChatGPT, and the desired results appear instantly. AI extracts key items and reviews risks, enhancing productivity and accuracy. It manages all pre-contract stages integrally, from standard contract creation, legal review, coordination and agreement processes, internal approvals, electronic signatures, contract storage, to execution management. It also checks compliance-related matters such as whether board approval or disclosure is required. Due to its excellent performance, companies like CJ CheilJedang and SK Telecom have adopted the solution. Additionally, discussions are underway with well-known large corporations and public enterprises.

Kim Hyung-jun, BHSN’s Chief AI Officer (CAIO), said, “There has long been high demand for systems that can search internal documents, but with the emergence of large language models (LLMs), summarization and organization have become possible.” He added, “BHSN’s solution demonstrates outstanding performance in legal, contract, and business document sectors.” He also noted, “In the past, people reviewed data fragmentarily, but BHSN’s solution shows the entire dataset at a glance, allowing work from perspectives previously unseen. Especially in legal affairs, unlike finance or sales, there was no concept of analyzing statistics or graphs via dashboards, but by introducing such features, satisfaction among corporate practitioners is high.”

BHSN’s capabilities stem from its proprietary technology and legal expertise. Two-thirds of its employees are technical staff, and there are many legal domain experts. Lawyers with experience at major law firms and corporate legal teams leverage their expertise to perform data labeling tasks. Kim CAIO stated, “Many companies aim for AI-first, but technology alone is not enough; the product must also advance. However, most lack domain experts, causing imbalance between technology and product. BHSN’s technology and legal experts collaborate to create services tailored to corporate needs.” Kim CAIO participated in developing SKT’s ultra-large language model, Naver Clova Note, and Clova X. He joined BHSN with confidence that as the AI market matures, vertical markets such as legal and medical fields will see high utilization.

Although a three-year-old startup, BHSN has moved beyond the proof-of-concept (POC) stage to supply actual services and generate revenue. Last month, it secured 6 billion KRW in Series A funding. In the long term, it plans to expand beyond contracts into ESG (environment, social, governance) and business documents, and is also considering English-language services. It aims to broaden its customer base from large corporations to small and medium-sized enterprises. Kim CAIO said, “Through the 'all-in-one enterprise AI legal solution,' we will help improve work efficiency and create new value,” adding, “We will establish ourselves as a leading company in the business document market.”