December 22, 2024

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(From Left) Kim Rae-yoon, head of Hanwha AI Center; Yeo Seung-joo, Hanwha Life Insurance vice chairman and CEO; Na Chae-beom, CEO of Hanwha General Insurance; and Kim Jong-ho, CEO of Hanwha Asset Management; pose for picture during the Hanwha AI Center opening ceremony held at Hanwha Group's office building in San Francisco on Dec. 3. (Hanwha Life)

The financial subsidiaries of Hanwha Group, South Korea’s seventh-largest conglomerate, have launched an artificial intelligence research center in San Francisco, the global hub for AI development.

Hanwha AI Center, established by Hanwha Life in collaboration with Hanwha General Insurance and Hanwha Asset Management, officially opened last week at Hanwha Group’s San Francisco headquarters.

The opening ceremony was attended by senior executives, including Hanwha Life Vice Chairman and CEO Yeo Seung-joo, Hanwha General Insurance CEO Na Chae-beom and Hanwha Asset Management CEO Kim Jong-ho, alongside prominent AI experts such as Andrew Ng, adjunct professor at Stanford University, and James Landay, head of Stanford’s Human-Centered AI, which collaborates with Hanwha Life on academic-industrial initiatives.

According to Hanwha Life, this marks the first time a South Korean financial firm has established an AI research center in San Francisco.

Located in the heart of AI research and investment, Hanwha AI Center aims to enhance collaboration within the local ecosystem, ultimately strengthening the competitiveness of Hanwha’s financial subsidiaries.

The center will be dedicated to advancing AI research, extending partnerships with leading universities and engaging with AI startups and investors, thereby developing innovative financial services, securing investment opportunities and driving open innovation.

The center also aims to serve as a platform for discussion on the role and social responsibilities of finance in the AI era, contributing to global sustainable development.

“Hanwha AI Center represents our vision for shaping the future of economic and financial services,” said Yeo Seung-joo, CEO of Hanwha Life. “We will continue to support South Korea’s financial industry through building proactive partnerships within the global AI ecosystem.”

Hanwha Life has been diversifying beyond the insurance sector and expanding its presence overseas with a goal to become a global comprehensive financial company. It has been investing heavily in AI capabilities, dedicating itself to AI research since 2014 and filing numerous patent applications since 2020, positioning itself at the forefront of digital innovation and transformation.

By Choi Ji-won (jwc@heraldcorp.com)