LG Uplus will cooperate with IBK System to develop artificial intelligence services optimized for the financial sector.

LG Uplus and IBK System signed a memorandum of understanding for cooperation on a finance-focused AI business on April 6 at IBK System's headquarters in Jung-gu, Seoul.

Under the agreement, the two companies will combine LG Uplus' AI capabilities and IBK System's financial domain expertise to develop finance-focused AI services. The AI will be implemented in an agent format that can be applied in real financial settings, such as credit screening and platforms supporting financing for small business owners.

The service development will use LG Uplus' B2B AX platform. The platform is an intelligent work-innovation system based on enterprise work agents. It incorporates an optimized model of the large-scale generative AI EXAONE developed by the LG AI Research Institute. This enables the construction of customized AI agents for companies.

LG Uplus' B2B AX platform provides an integrated package by developing in-house key functions needed to implement AI agents, including an agent core, a knowledge management system (KMS) and large language model operations (LLMOps).

The two companies will also expand cooperation with the goal of structural innovation across financial work. They will pursue cooperation across multiple areas, including joint planning of financial services and business cooperation, identifying new business models, productizing services for the financial sector and joint marketing, and promoting next-generation intelligent finance businesses.

Kwon Yong-hyun (권용현), head of LG Uplus' enterprise division and a vice president, said that combining LG Uplus' AI technology with IBK System's accumulated expertise in financial business and capabilities in using data could create synergy that leads innovation in the financial industry. He said he hopes it will serve as a starting point for setting a new standard for South Korea's financial AI market.

Hyun Kwon-ik (현권익), CEO of IBK System, said the agreement is meaningful in that it combines the capabilities of both companies to set a new milestone in the next-generation intelligent finance market. He said the two companies will become reliable partners that provide customers with top-level AI-based IT services.