JB Financial Group invested 40 billion won (approximately $30 million) in South Korean AI company Upstage through its subsidiaries Jeonbuk Bank, Kwangju Bank, and JB Woori Capital. The investment was made as part of Upstage's Series C-2 funding round, securing the financial group roughly a 2% equity stake. Upstage co-founder and CTO Hwalsuk Lee previously disclosed that the company is exploring various capital market options, including an initial public offering and a potential Pre-IPO funding round.