K Bank, KT Join Forces to Promote Generative AI Expansion

On the 27th, K Bank announced that it has signed a 'Business Agreement for the Application and Expansion of Generative AI Technology' with KT, kt cloud, and Upstage.

K Bank and the three companies will jointly work on building a finance-tailored generative AI environment applicable to the financial domain and conceptualizing new business models.

K Bank plans to list various cases such as products and services that can be applied based on the introduction of generative AI. They will analyze the effectiveness after technology adoption and comprehensively assess the appropriateness of implementation. Based on this, they will oversee the planning and development for launching new products and services and manage the overall operations.

With the introduction of generative AI, customers will be able to receive safe services. In the financial sector, access to and utilization of generative AI are limited due to issues such as personal information protection and compliance. Therefore, a generative AI environment will be established on K Bank’s servers.

KT and kt cloud will support the generative AI platform and the GPU infrastructure necessary for generative AI. Upstage will develop and utilize a finance-specialized Private LLM (Large Language Model) for enterprises. Upstage plans to cooperate in designing data after repeatedly training the Korean language model so that the enterprise Private LLM can be implemented in the K Bank app.

Cha Dae-san, Head of Tech at K Bank, said, “To realize a Tech-leading bank, we have taken the first step toward financial innovation by partnering with the best AI companies in Korea,” adding, “We will do our best to combine everyone’s capabilities and expertise to advance K Bank as a ‘creative innovation bank.’”

On the 27th, at the K-Bank headquarters in Euljiro, Seoul, (from left in the photo) Choi Jun-gi, Head of KT AI Business Division, Cha Dae-san, Head of K-Bank Tech, Kim Ju-seong, Head of kt cloud AI New Business, and Kim Seong-hoon, CEO of Upstage, attended the business agreement ceremony and took a commemorative photo. [Photo by K-Bank]