South Korean mobile network operator LG Uplus (KRX:032640), telecom firm KT (KRX:030200), and the Korea Federation of Banks signed a joint agreement to strengthen cooperation in eradicating voice phishing, LG said in a Monday press release.

The three parties will share telecommunications and banking data to upgrade AI-based fraud detection systems and enhance public awareness efforts. The initiative aims to create a safer financial and communications environment by uniting the telecom and finance sectors, the release said.