Team Naver and the Bank of Korea said on Tuesday they have completed the build of BOKI (Bank of Korea Intelligence), a dedicated generative AI service specialised for finance and economics, and will begin full-scale operations. The announcement came at the Bank of Korea-Naver joint AX conference held at the central bank’s conference hall in Seoul.

Attendees included Naver board chair Lee Hae-jin (이해진), CEO Choi Soo-yeon (최수연) and Naver Cloud CEO Kim Yoo-won (김유원), as well as Bank of Korea Governor Rhee Chang-yong (이창용) and Ryu Je-myeong (류제명), the second vice minister at the Ministry of Science and ICT.

The company said the service is a dedicated AI platform implemented through public-private cooperation to suit a central bank environment where security and trust are critical. It said it is meaningful as the first case among central banks globally to build an in-house AI platform and apply it at the operational stage.

Lee said the Bank of Korea’s vast data is a major strategic asset for South Korea and that the project was pushed forward by focusing all of Team Naver’s capabilities under a shared understanding that trust and stability must be considered alongside the speed of technology. He said he hopes the service will not only become a practical tool that innovates the Bank of Korea’s work culture, but also help raise South Korea’s financial and economic analysis capabilities to a higher level and strengthen the country’s overall competitiveness.

The service was built in an on-premise environment on the Bank of Korea’s internal network that is completely separated from external networks, blocking concerns about data leaks at the source. Naver said it was designed so AI training and inference are completed within the closed network, meeting guidelines for core national institutions that require top-level security while providing an optimal foundation to use generative AI safely in work.

Naver Cloud provided the cloud infrastructure, an AI platform foundation including large language models, and technical support for the project. The Bank of Korea will directly develop and operate AI applications specialised for finance and economic work based on it.

This will allow the Bank of Korea’s executives and employees to receive broad support including document search and summarisation, Q&A and translation, as well as analysis of economic issues and data-based decision-making. The two sides plan to carry out ongoing training and tuning based on Bank of Korea data to improve completeness as a finance and economics-specialised model. Naver Cloud said it has accumulated technical and operational know-how from this build experience in settling AI that meets high security requirements in the public and financial sectors into actual operations, and plans to accelerate the spread of public-sector AX centred on central government ministries and major financial institutions where security and data management are important.

Kim said the project is a global leading case in applying AI technology to actual work in the top-level security environment required by a central bank. He said Naver Cloud will continue to provide reliable AI infrastructure and services across industries including the public and financial sectors, contributing to strengthening South Korea’s AI competitiveness.