LG AI Research and the National Pension Service said on Thursday they signed a memorandum of understanding at LG AI Research's headquarters in Seoul's Magok district to jointly develop AI to improve the efficiency of pension fund management.

The two sides plan to build AI services tailored to fund management by combining LG AI Research's AI technology with the National Pension Service's investment expertise.

As their first joint project, they will develop an AI-based foreign exchange analysis service.

LG AI Research will use its financial AI agent, EXAONE Business Intelligence, to develop AI-based forecasting and analysis models tailored to pension fund management. It will use various macroeconomic indicators and unstructured market information such as news and research materials, along with the National Pension Service's data.

The National Pension Service will introduce AI into investment research and decision-making processes in pension fund management to improve the expertise and efficiency of investment judgments and raise long-term investment returns. It will verify the potential of the AI-based foreign exchange analysis service pursued as the first collaboration project. Over the long term, it plans to expand areas where AI can be applied in actual fund management operations.

The two sides said they will put reliability and safety first and aim to create a representative case that allows all citizens to enjoy tangible benefits from AI with peace of mind.

Kang Chang-nam (강창남), head of the support division at the fund management headquarters, said, "AI is changing the paradigm across industry, and the fund management headquarters will also keep pace with these changes and use AI to enhance management expertise and efficiency."

Lee Hwa-young (이화영), head of the business development division at LG AI Research, said, "LG AI Research's finance-specialized AI technology has already been recognized by many global investors," adding, "We will create a model case that leads AI use in the public sector."