FPT and Shinhan Bank Deepen Strategic AI-Driven Partnership to Advance Digital Finance and Cross-Border Innovation Ecosystems
FPT Corporation, a global technology and IT services provider, and Shinhan Bank Co., Ltd. of South Korea have entered into a renewed strategic partnership through a Memorandum of Understanding (MoU) aimed at expanding cooperation across digital finance, startup ecosystems, and advanced technologies. Artificial intelligence (AI) will serve as a central pillar of this collaboration, enabling both organizations to unlock new innovation opportunities and strengthen cross-border digital ecosystems between Vietnam and South Korea.
The MoU exchange ceremony took place during the Vietnam–South Korea Business Forum in Hanoi, an event organized alongside the official state visit of South Korean President H.E. Lee Jae Myung to Vietnam. The timing of the agreement underscores the growing momentum in bilateral economic and technological cooperation between the two countries, particularly in areas such as fintech, AI-driven transformation, and next-generation digital infrastructure.
This renewed partnership builds on a long-standing relationship between the two organizations and reflects a shared ambition to accelerate digital transformation in financial services while fostering deeper connectivity between innovation ecosystems in Vietnam and South Korea. By combining Shinhan Bank’s extensive expertise in financial services and deep market understanding with FPT’s capabilities in AI, digital transformation, and core banking systems, the collaboration is positioned to support Shinhan Bank’s next phase of growth and innovation.
At the core of this agreement is a shared commitment to leveraging AI and big data to accelerate the development of advanced financial solutions. Both parties intend to jointly explore new models of digital banking and intelligent financial services that can improve operational efficiency, enhance customer experience, and strengthen risk management capabilities. The collaboration will also focus on integrating data-driven insights into financial decision-making processes, enabling more adaptive and responsive banking systems.
Beyond digital finance, the partnership also extends into a broader set of strategic and emerging technology domains. FPT and Shinhan Bank have expressed interest in exploring joint initiatives in semiconductors, quantum technologies, low-altitude economy applications, future mobility systems, and other next-generation industries. These sectors are increasingly seen as critical drivers of future economic growth and technological competitiveness in both Vietnam and South Korea.
A key dimension of this collaboration is the development of cross-border startup and innovation ecosystems. Both organizations aim to create structured platforms that allow startups, enterprises, and technology players in Vietnam and South Korea to collaborate more effectively. This includes supporting startups entering new markets through “soft landing” programs, facilitating access to local business networks, and providing opportunities for co-development and scaling of innovative solutions.
Through this initiative, startups from both countries will gain improved access to financial resources, mentorship, and enterprise partnerships. The goal is to reduce barriers to international expansion and create a more integrated innovation environment where ideas can be rapidly transformed into scalable business models. This approach is expected to enhance entrepreneurship and stimulate innovation-driven growth in both economies.
Speaking on the collaboration, Ha Minh Tuan, Chief Executive Officer of FPT Korea and representative of FPT Corporation, highlighted the strategic importance of aligning with South Korea’s broader AI and digital finance ambitions. He noted that South Korea is actively accelerating the deployment of AI in financial services and increasing investment in strategic industries that will define its next phase of economic development. According to him, the partnership with Shinhan Bank will enable both organizations to design scalable, AI-first digital finance models while strengthening collaboration between startups, enterprises, and innovation ecosystems across high-potential sectors in both countries.
He further emphasized that the agreement aligns with the broader comprehensive strategic partnership between Vietnam and South Korea, where innovation, technology, and entrepreneurship are increasingly recognized as key pillars of bilateral cooperation. As one of Vietnam’s leading technology companies, FPT is committed to contributing its expertise in AI, digital transformation, and software engineering to support cross-border innovation initiatives and enterprise modernization efforts.
From Shinhan Bank’s perspective, the collaboration represents a strategic opportunity to deepen its engagement with the rapidly growing Vietnamese market. Jung Sang Hyuk, President and Chief Executive Officer of Shinhan Bank, noted that Vietnam is emerging as a critical node in the global supply chain and a key destination for financial and technological investment. He emphasized that strengthening partnerships with leading technology firms in Vietnam will enable Shinhan Bank to develop more innovative financial models, support Korean enterprises operating in Vietnam, and enhance its role as a long-term financial partner contributing to the development of both countries’ financial sectors.
He further added that Shinhan Bank aims to leverage this collaboration to support the international expansion of Korean businesses into Vietnam while also facilitating Vietnamese enterprises seeking opportunities in South Korea. By doing so, the bank seeks to position itself as a bridge between the two economies, enabling smoother financial integration and cross-border business development.
The partnership between FPT and Shinhan Bank is not new; it dates back to 2018, when both organizations began collaborating on digital banking modernization and fintech-related initiatives. Over the years, this relationship has evolved from project-based cooperation into a more comprehensive strategic alliance. Early efforts focused on enhancing core banking systems and implementing fintech solutions designed to improve efficiency and customer engagement.
In subsequent phases, the collaboration expanded to include broader digital transformation initiatives within Shinhan’s ecosystem. Notably, FPT has supported Shinhan Life Insurance in improving operational efficiency and customer experience through the application of AI, big data analytics, and Internet of Things (IoT) technologies. These initiatives have contributed to the development of more intelligent, data-driven insurance services and enhanced the company’s digital capabilities.
FPT’s presence in South Korea has also grown significantly since its entry into the market in 2016. Over the years, the company has established itself as a trusted technology partner for leading Korean enterprises across multiple industries. Its client portfolio includes major organizations such as LG Electronics, LG CNS, and Shinsegae I&C, among others. With operational hubs in Seoul, Daegu, and Pangyo, FPT has built a strong local presence supported by more than 300 on-site experts and over 2,500 offshore engineers serving Korean clients.
The company has demonstrated particular strength in sectors such as automotive technology, SAP and ERP systems, and low-code development services. Its AI-first strategy has further enhanced its positioning in the market, enabling it to deliver tailored solutions for financial institutions and other enterprise clients seeking to accelerate digital transformation.
FPT’s broader strategy focuses on combining artificial intelligence with deep industry expertise to deliver scalable digital solutions across sectors, particularly in banking and financial services. This includes the development of AI-driven platforms, automation tools, and data analytics systems designed to help financial institutions improve operational efficiency, reduce costs, and enhance customer engagement.
As global financial systems continue to evolve, partnerships such as the one between FPT and Shinhan Bank are increasingly seen as essential to driving innovation and competitiveness. By integrating AI, big data, and emerging technologies into financial services, both organizations aim to create more resilient, efficient, and customer-centric banking ecosystems.
Ultimately, this expanded collaboration represents more than just a bilateral business agreement. It reflects a broader shift toward integrated digital economies in Asia, where technology providers and financial institutions work closely together to shape the future of finance, innovation, and cross-border economic development. Through this partnership, FPT and Shinhan Bank are positioning themselves at the forefront of this transformation, with a shared vision of building smarter, more connected, and more innovative financial ecosystems between Vietnam and South Korea.
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