[Sponsored Report] Hyundai Card CEO Ted Chung talks innovation

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[Sponsored Report] Hyundai Card CEO Ted Chung talks innovation


Hyundai Card CEO Ted Chung speaks at the 2019 MIT Startup Showcase. [HYUNDAI CARD]

“Coding was a compulsory course I had to take 30 years ago when I was studying at M.I.T.,” said Hyundai Card CEO Ted Chung. “Professors were stressing the importance of computer programming to be always ready for the artificial intelligence (AI) period.”

The 2019 MIT Startup Showcase in Seoul kicked off on Oct. 14 at Studio Black by Hyundai Card in Seocho District, southern Seoul, co-hosted by Hyundai Card and the MIT Industrial Liaison Program (ILP).

The MIT Startup Showcase is an event that encourages innovation among corporations and tech-based start-ups from M.I.T. and has taken place in Silicon Valley, London, Tokyo and now Korea.

“Since the main theme of the event was blockchain, AI, fintech and digital transformation, we have selected Hyundai Card as the co-host,” said an official from ILP.

Eight start-ups from MIT with backgrounds in AI and big data participated at the showcase and had an opportunity to introduce their technology and services.

Hyundai Card’s AI service team, growth marketing team and data application team also held meetings with start-ups to seek opportunities for open innovation.

Two start-ups that have moved into Studio Black, AI-based chat platform Konolabs and global money transfer service Moin, were invited to the event as well.

“Hyundai Card is trying to provide the best opportunities for start-ups within Studio Black to have networking chances with other corporations. It is their success that will eventually bring value to Studio Black,” said an official from Hyundai Card.

“We have invested 300 billion won ($258 million), 35 percent of our profits for the last 5 years, to set up data analysis and usage through AI, and we have succeeded in pioneering the field of data curation where we can analyze acquired data within 3 seconds,” said Ted Chung.

”It would be great if everyone could get an even chance at open innovation.”

By Kim Seung-Jun [kim.Seungjun@joongang.co.kr]
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