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Finance

IBK Industrial Bank of Korea selects 7 startups for innovation tech testbed

IBK Industrial Bank of Korea said on Feb. 24 it has selected 7 startups for the seventh cohort of its innovation technology testbed, IBK 1st LAB. The chosen firms include companies with artificial intelligence and data analytics capabilities such as Gwanak Research Institute, Psionic AI and Korea Deep Learning. They will conduct proof-of-concept work with bank departments, including automating relief for voice-phishing victims and improving AI household loan counselling and screening.

AI & Enterprise

Korea Deep Learning completes 12 billion won Series A funding to expand workflow automation

Korea Deep Learning said it has completed a 12 billion won Series A funding round, with Korea Development Bank participating as the final investor. Translink Investment led the round and SV Investment joined as a key co-investor. Korea Development Bank invested 5 billion won, more than 40 percent of the total. The company said it has more than 80 customers and cumulative sales of 10 billion won, and plans to expand into workflow automation in 2026.