HHI inks partnership with Palantir Technologies to develop Big Data capabilities

The signature ceremony was held in Las Vegas the day before a tech focused trade show opens on 5 January. The ceremony was attended by Kisun Chung, CEO of Hyundai Heavy Industries Holdings as well as chief executives from Palantir Technologies and HHI’s energy and industrial machinery units.

Under the agreement, HHI Group and Palantir Technologies will jointly build a big data platform for the Group’s key affiliates related to shipbuilding & offshore engineering, energy, and industrial machinery. The two parties plan to subsequently create a joint venture that specialises in developing and selling big data platform services once the big data platform for each vertical is built.

These big data solutions could range from platform construction to operation to the generation of sales targeting domestic and foreign companies.

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

The big data platform will also be adopted by energy affiliates, such as Hyundai Oilbank. The energy company plans to build a platform at its plant in Daesan, South Chungcheong Province, South Korea, for five years from this year with a strategy to maximise process efficiency by integrating more than 100 production management systems into one.

Hyundai Doosan Infracore, an affiliate of industrial machinery, already developed “DI 360,” a big data collaboration platform, with Palantir Technologies in 2019, and is currently using it to manage its parts supply chain, handle on-site quality claim issues, and seize sales opportunities. HHI Group and Palantir Technologies are also planning to consider building a platform for other affiliates, such as Hyundai Construction Equipment.

Kisun Chung, CEO of Hyundai Heavy Industries Holdings, said, “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 organisational culture that changes the way we work using data.”