Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
HD Hyundai seeks data-driven decision making with Palantir software deal in Davos
Palnatir Technologies CEO Alex Karp, left, greets HD Hyundai Chairman Chung Ki-sun at the U.S. firm's office space for the World Economic Forum's annual meeting in Davos, Switzerland, Tuesday (local time). Captured from Palantir Technologies' Linkedin account
By Park Jae-hyuk
CEOs meet to expand group-wide strategic partnership
HD Hyundai said Wednesday it signed an agreement with Palantir Technologies for additional purchases of the U.S. company’s software, aiming to expand a data-driven decision making system across the group.
The two companies signed the contract during a high-level meeting on the sidelines of the annual World Economic Forum in the Swiss town of Davos this week. The deal is estimated to be worth hundreds of millions of dollars, though both companies have kept its terms confidential.
Specifically, HD Hyundai plans to jointly establish a “Center of Excellence” with Palantir to systematically embed advanced data analytics and artificial intelligence (AI) capabilities across the organization, while securing sustainable growth engines to support AI-driven innovation.
They emphasized that their alliance broadens platform access and collaboration across the full spectrum of HD Hyundai’s business, including electric systems, robotics and marine aftermarket services. Since Palantir began partnering with HD Hyundai Oilbank in 2021, the Korean conglomerate has deployed the U.S. tech firm’s big data solutions and AI platform across its core businesses.
“This expanded strategic partnership marks an important turning point in connecting data and workflows across HD Hyundai into a single, cohesive system, enabling faster and more sophisticated decision making,” HD Hyundai Chairman and CEO Chung Ki-sun said. “Palantir is a partner with globally proven capabilities in data integration, operational optimization and AI-driven analytics, and will add strength in executing HD Hyundai’s digital transformation.”
HD Hyundai Chairman Chung Ki-sun, right, talks with Palantir Technologies CEO Alex Karp at the U.S. firm's office in Washington, March 2025. Courtesy of HD Hyundai
Palantir also said it is proud to expand its partnership with its largest and oldest collaborator in Korea.
“HD Hyundai is a pioneering force in global industry, and the significant expansion of our partnership marks an exciting new chapter,” Palantir CEO Alex Karp said. “We are committed to advancing our strategic collaboration and driving the group’s competitiveness, and we look forward to continue building together.”
According to HD Hyundai, its chairman attended key official sessions in Davos and held wide-ranging discussions on various topics including industry transformation driven by AI. He is also scheduled to attend the Oil & Gas Governors Meeting to exchange views on changes in the global energy market, energy transition, energy security and technological innovation.