KT to bolster digital finance tech with Woori Financial Group
SEOUL, Aug. 19 (Yonhap) -- KT Corp., a major South Korean telecom operator, said Wednesday it has partnered with Woori Financial Group to collaborate in integrating digital solutions into financial services.
Under a memorandum of understanding, the two sides will cooperate in artificial intelligence (AI) and big data-based financial services, foster AI training in the finance sector and share data in new businesses, according to a statement from KT.
KT Corp. CEO Koo Hyun-mo (2nd from L) and Woori Financial Group CEO Sohn Tae-seung (3rd from L) pose for a camera after signing a memorandum of understanding at Woori Bank's headquarters in central Seoul on Aug. 19, 2020, in this photo provided by KT. (PHOTO NOT FOR SALE) (Yonhap)
The telecom operator said it expects Woori Financial to adopt KT's technology to roll out AI-based call centers and cloud-based remote work systems.
The latest agreement warms ties between the two parties, which hold major stakes in K-Bank, a local internet-only bank launched in 2017.
BC Card Co., a credit card unit of KT Corp., has a 34 percent stake in K-Bank, while Woori Bank, a flagship unit of Woori Financial, holds 19.9 percent, according to KT.
The new partnership comes as KT seeks to boost its presence in the finance sector.
In April, KT signed a partnership with BNK Busan Bank, BNK Capital and Korea Credit Bureau to offer a service through which its subscribers can check financial products related to their mobile communication information.
yunhwanchae@yna.co.kr
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