Naver to Assist Financial Supervisory Tasks with AI... Business Agreement with Financial Supervisory Service

Team Naver will assist the Financial Supervisory Service (FSS) in improving work productivity using artificial intelligence (AI) technology.

On the 3rd, Naver and the FSS signed a business agreement at the FSS office in Yeouido, Seoul, to innovate financial supervision tasks based on AI.

On the 3rd, the business agreement ceremony between Team Naver and the Financial Supervisory Service was held at the Financial Supervisory Service in Yeouido, Seoul. From the left, Lee Bok-hyun, Governor of the Financial Supervisory Service, and Choi Soo-yeon, CEO of Naver.
[Photo by Naver]

The signing ceremony was attended by key executives from both organizations, including Lee Bok-hyun, Governor of the FSS; Kim Young-joo and Kim Byung-chil, Deputy Governors of the FSS; Choi Soo-yeon, CEO of Naver; Kim Nam-sun, Chief Financial Officer (CFO) of Naver; and Kim Yoo-won, CEO of Naver Cloud.

Both parties plan to identify areas within financial supervision tasks that can be improved using AI technology. Naver’s AI technologies, including 'HyperCLOVA X,' will be applied to these areas. HyperCLOVA X is a massive AI model unveiled by Naver in August last year. It is utilized by companies and institutions across various sectors such as public services, finance, gaming, and mobility to enhance work productivity or build proprietary AI services.

Cooperation for educational and research purposes will also take place. Naver will provide training on generative AI technology to FSS employees. Both parties will jointly promote research collaboration on the digitalization of finance, including the use of AI in the financial sector.

CEO Choi stated, "Based on our diverse cooperation experiences with the financial industry, we will continue sustained collaboration by supporting the construction of customized AI solutions for the FSS’s work innovation and digital system advancement."

Governor Lee said, "We plan to actively utilize the latest digital technologies in financial supervision tasks. Through this business agreement, we expect to significantly strengthen the FSS’s capabilities in supervision, inspection, and financial consumer protection by leveraging Naver’s IT expertise."