[Asia Economy Reporter Donghoon Jeong] Hyundai Heavy Industries Group announced on the 30th that Jung Ki-sun, CEO of HD Hyundai, met with Peter Thiel, co-founder and chairman of the U.S. big data company Palantir Technologies, to discuss new business initiatives and overall management issues.
CEO Jung met with Chairman Thiel, who recently visited Korea, at the Fairmont Hotel in Yeouido, Seoul, and agreed to strengthen the joint ventures (JV) established by Hyundai Heavy Industries Group and Palantir, as well as the collaborative projects currently underway between the two companies.
CEO Jung and Chairman Thiel reviewed the progress of digital transformation (DX) across Hyundai Heavy Industries Group’s shipbuilding, energy, and construction machinery business sectors, which both companies are promoting.
In September, Hyundai Heavy Industries Group signed a main contract to introduce Palantir’s enterprise big data platform, Foundry, to all affiliates in the shipbuilding and offshore sectors, and plans to utilize it in building an autonomous operating shipyard.
CEO Jung and Chairman Thiel exchanged views on management uncertainties such as global inflation and interest rate hikes, the prolonged Russia-Ukraine war, and the resulting complex energy crisis, and shared ideas on corporate survival and growth strategies amid the multifaceted economic crisis.
They also agreed to complete the establishment of a JV within the year to introduce and supply customized big data platform services to Korea’s public institutions and private sectors. CEO Jung stated, "We will accelerate the digital transformation based on data and AI (artificial intelligence) together with Palantir."
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