Hanwha Life Insurance announced Thursday that it has signed two key agreements at the World Economic Forum in Davos, Switzerland, to boost its global presence and drive innovation in artificial intelligence and financial technology.

On Tuesday, Hanwha Life signed a memorandum of understanding with SBVA, formerly SoftBank Ventures Asia, a venture capital firm specializing in AI and ICT investments. The agreement was signed by Hanwha Life CEO Yeo Seung-joo, Chief Global Officer Kim Dong-won and SBVA CEO Lee Jun-pyo.

Founded in 2000 under the SoftBank Group, SBVA has an established reputation for investing in early-stage startups in AI and ICT. Since its acquisition by The Edgeof in 2022, the firm has expanded its global network, focusing on fund management and investments worldwide.

“Global partnerships are crucial for advancing AI innovation, as reflected in this year’s WEF theme, 'Collaboration for the Intelligent Age,'” Yeo said. “Through this partnership with SBVA, we will seize new growth opportunities and strengthen our position as a global financial leader.”

The next day, Hanwha Life signed another memorandum with Celadon Partners, a Hong Kong-based investment firm specializing in the Asia-Pacific market. With a focus on turnaround and special situations strategies, Celadon Partners aims to support Hanwha Life in strengthening its footprint in Asian markets.

“We are excited to partner with Hanwha Life, a company making significant strides as a global financial leader,” said Celadon Partners CEO Donald Tang.

At this week's Davos forum, Hanwha Life showcased its expertise in AI and digital innovation to global investors while actively pursuing new partnerships. The company also discussed its ongoing AI initiatives with the Stanford Institute for Human-centered Artificial Intelligence to outline plans for collaboration.

By Park Li-na (linapark@heraldcorp.com)