[Sponsored Report] Hyundai Capital signs new AI deal

Hyundai Capital signs an agreement with KT to provide better services in Yeouido, western Seoul, on May 8. [HYUNDAI CAPITAL]

Hyundai Capital signed a business agreement with KT on May 8 to develop finance services that use voice recognition-based artificial intelligence (AI) devices.

An agreement ceremony was held in Yeouido, western Seoul, where Hyundai Capital’s headquarters is located. Lee Byung-hui, senior vice president of the capital division at Hyundai and Lee Pil-jae, senior managing director and head of marketing strategy at KT, participated in the ceremony. They agreed to work for new financial services and AI development.

Hyundai Capital and KT will develop in-vehicle infotainment (IVI) for cars based on KT’s GiGA Genie. The device will be applied on cars leased and bought on installments from Hyundai Capital. Customized services and specialized financial products will be produced based on accumulated user data. The companies will also work with Deal Car, a car-sharing initiative with small and mid-sized rental companies. New services, such as AI car-sharing services, will be promoted to increase customer convenience.

This business model will take advantage of the capacities of finance and news agencies.

Hyundai Capital’s finance and digital expertise, along with KT’s know-how in AI, communications technology and infrastructure, will enable them to provide unique services.

As part of their cooperation plan, Hyundai Capital will provide financial benefits, including reductions on rental fees for safe drivers. The companies will analyze driving habits based on accumulated data to acquire information, and will also offer customized services such as information on service time for vehicle maintenance.

Voice recognition technology and car-sharing services will also be offered by the two companies. KT’s GiGA Genie will allow customers to access Deal Car and allow them to reserve cars and have them delivered to their homes using just their voice.

The service allows convenient access to car-sharing for customers, and those with KT memberships will soon be able to use their KT membership points and discount coupons.

“We have made an agreement with KT for car finance, which will be a great advancement in the changing car market,” said an official at Hyundai Capital. “The finance and car-sharing services will offer highly sophisticated service and content.”

BY KIM MIN-JI [kim.minji4@joongang.co.kr]