Staff put together the foyer for CES 2025 on the Las Vegas Conference Middle West Corridor within the U.S., Sunday (native time). Reuters-Yonhap
Korean monetary CEOs broke their yearslong streak of attending the annual CES tech commerce present in Las Vegas, amid lingering uncertainties within the home economic system. This yr, Korean CES delegations have been principally restricted to working-level employees, with some corporations opting to not ship any representatives in any respect.
In accordance with market watchers on Monday, solely Shinhan Financial institution and the Industrial Financial institution of Korea (IBK) plan to function unbiased cubicles on the world’s largest tech present, which kicks off on Tuesday (native time). Nonetheless, neither group’s chief will attend the occasion.
That is the primary time that IBK has arrange an unbiased sales space at CES. The financial institution plans to unveil its synthetic intelligence (AI)-powered „future progress mannequin,“ a system designed to judge the expansion potential of startups inside their first seven years by leveraging data-driven insights.
Whereas IBK Chairman and CEO Kim Sung-tae had initially deliberate to attend the occasion in individual to commemorate the financial institution’s first CES enterprise, he in the end determined to stay in Korea, citing quickly altering home circumstances. In his place, IBK Deputy CEO Kim Hyung-il will symbolize the financial institution.
„We intention to display to international companies and traders that IBK holds experience in financing for small and medium-sized enterprises, in addition to supporting revolutionary corporations,“ an IBK official mentioned. „We’ll actively help the worldwide ventures of Korean startups that possess revolutionary know-how.“
Shinhan, which has hosted its personal sales space for 3 consecutive years, can be showcasing AI financial institution tellers and an unmanned banking department. Final yr, Shinhan grew to become the primary monetary establishment to develop its personal massive language mannequin for integrating AI into monetary operations. The financial institution is now centered on additional refining and advancing the mannequin.
Shinhan Monetary Group Chairman Jin Okay-dong, identified for his curiosity in CES, and Shinhan Financial institution CEO Jung Sang-hyuk, who attended final yr, have been initially anticipated to take part this yr. Nonetheless, each opted to not on account of home commitments.
Together with Shinhan, 5 home monetary holding teams determined to not ship executive-level representatives this yr. KB, Woori and NH NongHyup dispatched solely working-level employees, with Woori attending the exhibition for the primary time in 5 years since 2020. Given the rising affect of AI, these teams intention to discover new alternatives for collaboration throughout totally different industries.
In distinction, Hana Monetary Group selected to not ship any representatives in any respect, regardless of its chairman Ham Younger-joo having personally attended CES for the previous two years.
„We determined to not take part in CES this yr to concentrate on managing inside dangers amid the financial and social uncertainties at residence and overseas,“ a Hana Monetary Group official mentioned.