HHI Group inks partnership with Palantir to establish big data platform

Hyundai Heavy Industries CEO Chung Ki-sun, bottom right, shakes hands with Palantir Technologies COO Shyam Sanjkar after signing an MOU to establish a big data platform, with Palantir CEO Alex Karp seen on screen, a day ahead of the CES 2022 in Las Vegas, Tuesday (local time). Courtesy of Hyundai Heavy Industries

By Kim Hyun-bin

LAS VEGAS ― Hyundai Heavy Industries (HHI) Group inked a partnership with Palantir Technologies, the top U.S. big data analytics company, to build a big data platform for the conglomerate's core businesses, including shipbuilding and offshore engineering, Wednesday. The two parties also decided to establish a joint venture to promote the big data platform business in the medium to long term.

HHI Group announced that it signed a memorandum of understanding with Palantir Technologies in Las Vegas, Tuesday (local time) for the establishment of a big data platform.

Logo for Consumer Electronics Show / Courtesy of Consumer Technology Association

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

The agreement-signing event was held in a hybrid online and offline format one day before the Consumer Electronics Show 2022, the world's most influential tech event. The event was attended by Chung, Hyundai Doosan Infracore CEO Cho Young-cheul, Hyundai Electric CEO Cho Seok and chief executives from Palantir.

“HHI Group shaped one of the most significant industries of the 20th century and is absolutely vital to the lives we lead,” said Alexander Karp, co-founder and CEO of Palantir Technologies who attended through a video call. “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.”

Based on the agreement, HHI Group and Palantir will jointly build a big data platform for the conglomerate's key affiliates related to shipbuilding and offshore engineering, energy and industrial machinery. HHI Group will provide its affiliates' process expertise and sales know-how, whereas Palantir will offer software and development personnel.

Once the big data platform for each affiliate is built, the two parties plan to create a joint venture specialized in developing and selling big data platform services. Based on accumulated achievements, the joint venture will commercialize big data solutions from platform construction to operation to generate sales targeting domestic and foreign companies.

Hyundai Heavy Industries, a shipbuilding and offshore engineering affiliate of HHI Group, is working on its “Future of Shipyard” (FOS) project to transform itself by 2030 into a smart shipyard, the first of its kind in the world. All processes, from design to production, are connected in real time to build a shipyard that enables smart work management, with Palantir's big data platform applied.