Hanwha has established an artificial intelligence research center in San Francisco, expanding its decade-long push into AI-driven financial services. The Korean insurance giant’s new facility, launched on December 3, brings together its insurance and asset management units under one roof to develop advanced financial products.
The center aims to tap into Silicon Valley’s technology ecosystem through partnerships with local universities and startups. Stanford University’s Human-Centered AI director James Landay and AI researcher Andrew Ng joined the opening ceremony, signaling potential academic collaborations.
Hanwha Life Insurance, which has been investing in AI since 2014, leads the initiative alongside Hanwha General Insurance and Hanwha Asset Management. The company has been actively filing AI-related patents since 2020, though specific numbers weren’t disclosed.
Yeo Seung-joo, vice chairman and CEO of Hanwha Life Insurance, said the center would help shape the future of financial services, according to a company statement. The facility plans to focus on product development, investment opportunities, and new business initiatives.
The move follows a broader trend of Asian financial institutions setting up research operations in the U.S. to access talent and technology. However, the center’s actual impact on Hanwha’s services and competitiveness remains to be proven.
