On September 9, NongHyup Financial Group and Korea University (KU)'s Industry-Academic Cooperation Foundation signed a memorandum of understanding (MOU) on artificial intelligence (AI) joint research and digital talent training.

Through the MOU, these two organizations decided to conduct joint research on the effective provision of financial services by utilizing AI technology to its fullest potential. NongHyup Financial announced that it will apply KU's big data-based AIs for “All Digital” transformations to be perceived by their customers. They declared to create a practical and cooperative relationship in related business fields, such as developing a curriculum to cultivate professionals in both big data and AI fields.

Through this agreement, Lee Sang Rae, the president of NongHyup Financial Group Digital Strategy, expressed his hope that this MOU will help improve the work experience of NongHyup employees and that KU's research capabilities will have a synergy effect on providing differentiated financial services to their customers. Cho Seok Joo, the president of KU Industry-Academic Cooperation Foundation, also looked forward to the possibility of development in the FinTech sector and expected to provide necessary results for the financial group using KU’s infrastructure.