Cryptolab (CEO Jeonghee Cheon) , a developer of next-generation homomorphic encryption technology, announced on September 3rd that it signed a Memorandum of Understanding (MOU) with Kakao Enterprise on September 2nd for collaboration on cloud and security technologies. The signing ceremony took place in Pangyo, Seongnam, Gyeonggi Province, and was attended by key representatives from both companies.
This agreement aims to combine Cryptolab's homomorphic encryption technology with Kakao Enterprise's cloud infrastructure capabilities to simultaneously protect sensitive data and provide advanced AI services. Substantial synergy is expected, particularly in sectors requiring high levels of data security, such as finance, healthcare, and the public sector.
Homomorphic encryption is a technology that allows computations on encrypted data without decryption, enabling AI learning and analysis without exposing sensitive raw data. Cryptolab is leveraging this technology to create a secure data processing environment in various fields, including biometric authentication, genome analysis, and facial recognition payments.
Under the agreement, Kakao Enterprise will support its cloud infrastructure and related technologies and jointly launch a training program to cultivate experts in homomorphic encryption. Cryptolab will share homomorphic encryption technology and operational expertise, and jointly identify and expand cloud-based business opportunities. The two companies plan to prioritize cooperation across homomorphic encryption and cloud technologies, laying the foundation for joint achievements.
“CryptoLab’s homomorphic encryption technology can be applied to a variety of services that require high levels of security, and we will accelerate the commercialization of this technology through our collaboration with Kakao Enterprise,” said Cheon Jeong-hee, CEO of CryptoLab and professor at Seoul National University’s Department of Mathematical Sciences.
Lee Jae-han, head of the cloud business division at Kakao Enterprise, said, “We will actively support Crypto Lab’s technological development based on Kakao Cloud’s high-performance infrastructure and contribute to the creation of a secure, cloud-based homomorphic encryption service ecosystem.”
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