- CEO Chung Ki-sun mentioned with Chairman Peter Thiel to make progress in business cooperation, digital transformation (DX), and business administration agenda.
- Establishment of a three way partnership for giant information options inside this 12 months was mentioned to construct an enormous information platform to supply service for the private and non-private sectors.
- “We will further speed up the digital transformation with Palantir,” stated CEO Chung.
SEOUL, South Korea, Oct. 30, 2022 /PRNewswire/ — HD Hyundai (former Hyundai Heavy Industries Holdings) CEO Chung Ki-sun met with Co-founder and Chairman Peter Thiel of Palantir Technologies, the world’s no.1 massive information firm, to debate new business improvement and total business agenda.
Hyundai Heavy Industry Group (HHI Group) introduced on October 30 that CEO Chung had a dialogue with Palantir Chairman Thiel at Yeouido Fairmont Hotel Seoul through the Chairman’s go to to Korea. They exchanged opinions about an upcoming three way partnership (JV) between HHI Group and Palantir and the business improvement presently below bilateral cooperation.
CEO Chung and Chairman Thiel examined the digital transformation (DX) standing in HHI Group’s business areas of shipbuilding, vitality, and building gear, that are below bilateral collaboration.
In September, HHI Group signed the primary contract to introduce “Foundry,” Palantir’s company massive information platform, to all of the associates below the shipbuilding business, and deliberate to make the most of the platform to determine the inspiration for a shipyard with autonomous operation, which is presently below improvement.
Moreover, the 2 business leaders exchanged opinions about business uncertainty brought on by worldwide inflation, rate of interest improve, and the vitality disaster mixed with the extended Russia–Ukraine battle and shared concepts about company survival and development technique amid the complicated financial disaster.
In addition, CEO Chung and Chairman Thiel agreed to finalize the JV institution this 12 months to introduce and provide a tailor-made massive information platform service to public establishments and the non-public sector in Korea. HHI Group and Palantir plan to increase gross sales by way of the JV by offering a customer-tailored massive information resolution in Korea, the place the world-class IT infrastructure is established.
HHI Group will present know-how gathered in its world’s no.1 shipbuilding business and numerous manufacturing companies and set up a bridgehead within the Korean market and entry methods. At the identical time, Palantir will construct up an enormous information platform for patrons and take accountability for software program provide and operation.
“The meeting with Chairman Thiel was very constructive and fruitful. With Palantir, we will gear up the speed for digital transformation based on data and AI,” stated CEO Chung.
“The logistical challenges for a world-leading shipbuilding company like Hyundai Heavy Industries Group are immense,” stated Palantir Co-Founder and Chairman Peter Thiel. “Those hard problems are where Palantir’s engineers thrive.”
- About Chairman Peter Thiel of Palantir Technologies
Chairman Peter Thiel based PayPal in 1998, the world’s first Fin-tech firm and operated it with Elon Musk, and co-founded Palantir with Alex Carp in 2004. Known as a “Silicon Valley heavyweight,” he invested in over 150 IT firms, together with Facebook, LinkedIn, Tesla Motors, Space X, and Airbnb.
SOURCE Hyundai Heavy Industries (HHI) Group
