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KB Financial Group partners with LG Group to develop digital technologies

KB Financial Group Inc. agreed to co-develop digital technologies with LG Group, including blockchain and artificial intelligence, The Korea Times reported Jan. 15.

The two parties signed a memorandum of understanding agreeing to utilize their expertise to develop various products.

They will also develop a new digital platform based on blockchain technology, according to a KB Financial official. However, the companies will not use virtual coins in the project due to the volatile nature of their prices.