| Shinhan Bank CEO Jin Ok-dong, right, and Hancom CEO Kim Sang-chul pose after agreeing on strategic digital ties at Shinhan Bank's office in Seoul, Friday. Courtesy of Shinhan Bank. |
By Park Hyong-ki
Shinhan Card and Hancom have forged strategic ties to pursue smart city projects in Southeast Asia, including Vietnam, the bank said Friday.
The two will also collaborate on developing new digital businesses in the region using blockchain and artificial intelligence (AI) technologies.
This comes as they look for new opportunities abroad, with Hancom trying to be more than just a developer of the Korean word processing program.
Lately, Hancom has been getting into cloud computing and pursuing acquisitions for new business.
Hancom said: “The company will engage in strategic M&A and promotion of in-house ventures, as well as cooperation with the academic community to identify new engines of growth.”
“We will collaborate in various digital areas for new growth,” a Shinhan Bank spokesman said.
Shinhan Bank and Hancom will also conduct joint research and development of AI-based voice recognition and seek opportunities in mobility, or smart transportation.
These will be an essential part of future smart city projects in Southeast Asia, the bank said.
The two companies said they will be able to generate synergy in AI as Shinhan Bank has developed a chatbot that enables it to provide financial consultations in accordance with customers' needs via its SOL platform.
Meanwhile, Hancom said it has developed a voice-recognition application that can be converged with Shinhan's digital banking services.