Insurance Training Institute Attracts First Foreign Investment for AI Subsidiary...Taiwan's Wisdom Garden to Inject Up to 5 Billion Won

LOI for joint investment signed on the 12th...joint product development utilizing Wisdom Garden's technology
Includes development of an "AI Sales Coach" system to enhance the sales capabilities of approximately 650,000 planners

The Insurance Training Institute announced on the 13th that on the 12th it signed a letter of intent (LOI) for joint investment with Wisdom Garden, a Taiwan-based global educational artificial intelligence (AI) technology company, to establish and successfully operate an AI subsidiary.

Ha Taekyung (right), Director of the Insurance Training Institute, and Cheng Michael, CEO of Wisdom Garden, pose for a commemorative photo at the signing ceremony for a memorandum of understanding on joint investment held on the 12th at the Insurance Training Institute building in Seongbuk-gu, Seoul. Insurance Training Institute

Under the agreement, Wisdom Garden highly evaluated the business vision and growth potential of the AI subsidiary that the Institute is working to establish, and pledged a strategic investment plan of between 2 billion and 5 billion won to ensure stable capital procurement and growth.

In addition, the Institute agreed with Wisdom Garden to jointly plan and jointly develop customized products for the Korean market based on Wisdom Garden's AI Learning Experience Platform (LXP) technology.

They will also jointly develop an "AI Sales Coach" system with Wisdom Garden to enhance the sales capabilities of approximately 650,000 insurance planners in Korea.

The Institute and Wisdom Garden agreed to build a close cooperative system that combines their respective strengths for the successful operation of the AI subsidiary. Following the signing of this LOI, the Institute plans to begin the practical procedures for establishing the subsidiary as soon as approval for the amendment of its articles of association is completed.

Ha Taekyung, President of the Insurance Training Institute, said, "With the signing of this LOI, we have gained strong momentum for the establishment of the AI subsidiary that the Institute has been preparing," adding, "In addition to Wisdom Garden, there are other overseas companies that have expressed their intention to invest in the AI subsidiary, so the outlook for the AI subsidiary is very bright."

This content was produced with the assistance of AI translation services.