South Korean shipbuilder Hyundai Heavy Industries Group (HHI) has decided to expand its partnership with American software company Palantir Technologies to digitise operations.
As informed, Korea Shipbuilding & Offshore Engineering (KSOE) will utilise the Palantir Foundry operating system across its shipbuilding subsidiaries — Hyundai Heavy Industries Co, Hyundai Samho Heavy Industries, and Hyundai Mipo Dockyard — in order to advance the “Future of Shipyard” vision .
Teams across the shipbuilding subsidiaries will use Foundry to help them make better, data-driven decisions, focused especially on safety and operational efficiency. During the successful pilot phase, shipbuilding teams used Foundry to improve architectural design of ships, ensure quality on production lines, and bring the power of big data analysis to standard safety procedures.
This expansion, valued at $20 million over 5 years, deepens Palantir’s partnership with Hyundai Heavy Industries Group and helps with the digital transformation of South Korea’s shipbuilders.
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A group of Palantirians visited South Korea this week. Among other meetings and events, we met with our counterparts from Hyundai Heavy industries and agreed to an expansion of our partnership. Learn more: https://t.co/Y1JGHFJGI5 pic.twitter.com/bBwsLR74ge
As announced in January, Foundry is already in use across Hyundai Oilbank for crude oil selection, daily refinery operations, and more. Hyundai Doosan Infracore, another HHI Group subsidiary, has been using Foundry since 2019 for process management, parts management, supply chain optimization, and more.
These contracts are valued at over $25M, bringing the total of our contracts to over $45M over 5 years.
“We will change the wa y we work by working with Palantir Technologies,” Taejin Lee , CDO of HHI Group, pointed out.
“We aim to enhance the competitiveness of our group by setting up an environment where we can make data-based decisions.”
The announcement marks a significant step towards the formation of a joint venture. In January 2022, at an executive gathering at CES in Las Vegas, the two companies signed an agreement to establish a big data platform for use across the group and in Hyundai Heavy’s core markets in both the public and private sectors.
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