HD Hyundai CEO Chung Ki-sun spoke to Palantir Technologies Chairman Peter Thiel about the business expansion

  • chairman Chung Ki-Sun discussed with the chairman Peter Thiel to advance business collaboration, digital transformation (DX) and corporate governance agenda.
  • Establishing a big data solutions joint venture this year has been discussed to build a big data platform that provides services to the public and private sectors.
  • “With Palantir, we will continue to accelerate digital transformation,” said CEO Chung.

Seoul, South Korea, October 30, 2022 /PRNewswire/ — CEO of HD Hyundai (formerly Hyundai Heavy Industries Holdings). Chung Ki-sun met with the co-founder and chairman Peter Thiel by Palantir Technologies, the world’s leading big data company, to discuss new business developments and the overall business agenda.

This was announced by the Hyundai Heavy Industry Group (HHI Group). 30th of October that CEO Chung met with Palantir Chairman Thiel at the Yeouido Fairmont Hotel Seoul during the Chairman’s visit to Korea. They exchanged views on an upcoming Joint Venture (JV) between HHI Group and Palantir and current business development in the bilateral cooperation.

CEO Chung and Chairman Thiel examined the status of digital transformation (DX) in HHI Group’s shipbuilding, energy and construction machinery divisions, which work together bilaterally.

In September, HHI Group signed the main contract to roll out “Foundry”, Palantir’s big data enterprise platform, to all subsidiaries in the shipbuilding business and planned to use the platform to lay the foundation for a shipyard with autonomous operations, which is currently under development.

In addition, the two business leaders exchanged views on the business uncertainty caused by global inflation, rising interest rates and the related energy crisis RussiaUkraine War and common ideas about the survival and growth strategy of companies in the midst of the complex economic crisis.

In addition, CEO Chung and Chairman Thiel agreed to complete the JV formation this year to launch and provide a customized big data platform service for public institutions and the private sector in Korea. HHI Group and Palantir plan to expand sales through the joint venture by offering a customized big data solution in Korea, where the world-class IT infrastructure is established.

HHI Group will share its expertise accumulated in its world-leading shipbuilding company and various manufacturing companies, and establish a bridgehead in the Korean market and entry strategies. At the same time, Palantir will build a big data platform for customers and take over the software supply and operation.

“The meeting with Chairman Thiel was very constructive and fruitful. With Palantir, we will increase the speed for digital transformation powered by data and AI,” said CEO Chung.

“The logistical challenges for a world-leading shipbuilder like Hyundai Heavy Industries Group are immense,” said Palantir Co-Founder and Chairman Peter Thiel. “Those tough problems are where Palantir engineers thrive.”

  • About the chairman Peter Thiel by Palantir Technologies
    chairman Peter Thiel In 1998, PayPal founded and co-operated the world’s first fintech company Elon Muskand was co-founder of Palantir Alex Carp in 2004. Known as the “Silicon Valley heavyweight,” he has invested in over 150 IT companies, including Facebook, LinkedIn, Tesla Motors, Space X, and Airbnb.

SOURCE Hyundai Heavy Industries (HHI) Group

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