HHI Group to build big data platform for core biz with U.S. Palantir Technologies

Kisun Chung, CEO of Hyundai Heavy Industries Holdings, on the right in the front row, and Shyam Sankar, COO of Palantir on the left; and Alexander C. Karp, CEO of Palantir in the video in the upper center of the photo.

Hyundai Heavy Industries Group has partnered with U.S. big data analytics company Palantir Technologies Inc. to establish big data platform for its mainstay shipbuilding and offshore engineering businesses.

The two have signed a memorandum of understanding on Tuesday at a semi-virtual signing event before the shipbuilder debuts on the world’s biggest electronics tradeshow CES 2022 in Las Vegas.

Under the partnership, HHI Group plans to build a big data platform for its key affiliates that engage in businesses ranging from shipbuilding and offshore engineering to energy and industrial machinery, with Palantir Technologies. HHI Group will provide its expertise in process and sales, and Palantir will offer software and development personnel.

They will form a joint venture that specializes in development and sales of big data platform service for companies at home and abroad.

Hyundai Heavy Industries, a shipbuilding and offshore engineering unit, is working on a project to transform itself into a smart shipyard by 2030. It aims to connect all processes from design to production in real time for smart management based on Palantir’s big data platform for the first time in the world.

Energy affiliates also will adopt the big data platform. Hyundai Oilbank plans to build a platform at its Daesan plant in South Chungcheong Province for the next five years to maximize process efficiency with integrated production management system.

Hyundai Doosan Infracore, an industrial machinery unit, has already been using its big data platform “DI 360” jointly developed with Palantir in 2019 for management of its parts supply chain, response to quality issues and exploration of revenue making opportunities.

“We expect that this partnership with Palantir Technologies will substantially improve the competitiveness of core businesses of the Group. It will be an important turning point in innovation of organizational culture that changes the way we work using data,” said Chung Kisun, CEO of Hyundai Heavy Industries Holdings.

Palantir Technologies co-founder and CEO Alexander C. Karp also welcomed the partnership, saying “We are deeply grateful for the opportunity to partner with a company that is not only a leader among the world’s industrial giants but one whose continued growth and success are critical to our collective welfare and security.”

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