LG CNS announced on the 27th that it has concluded the 'Optimization Grand Challenge 2024' and held an awards ceremony.
Since May, LG CNS has been conducting the 'Optimization Grand Challenge 2024' in collaboration with the Korean Institute of Industrial Engineers to raise awareness of Mathematical Optimization among domestic and international companies and talents and to expand the business base.
Hyun Shin-gyun, CEO of LG CNS (left), poses for a commemorative photo with the 'DMS' team from Seoul National University, who won the grand prize at the 'Optimization Grand Challenge 2024' [Photo by LG CNS]
The competition theme was 'Bundle Delivery Optimization: Bundle it, Send it Cheaply and Quickly.' Participating teams implemented algorithms to find the optimal routes that match delivery personnel on foot, motorcycles, and vehicles to deliver food at the desired time with minimum cost in situations where multiple customers have ordered food. The evaluation of the algorithms was based on an assessment model pre-implemented by LG CNS optimization experts and advisory professors from the competition operation committee. The core of the evaluation was whether the algorithms implemented by the teams could find the optimal combination within the time limit for the given bundle delivery problems.
As a result of the finals, the grand prize was awarded to the 'DMS' team composed of students from Seoul National University. The excellence award went to the 'Bareun Yeoljeong Cheongnyeondeul' team from Seoul National University. The merit awards were given to two teams: PRO (Seoul National University) and OPTMATE (Hyundai AutoEver, LG Display). Special prizes, awarded to teams ranked 5th to 7th, went to nodez (Seoul National University), Slashe (Hankuk University of Foreign Studies), and VIP (Seoul National University). Encouragement awards were given to three teams: Bulgeundal (Seoul National University, VMS Solutions), Moon Seon-gyun (LG CNS), and Haneulcheong (Korea University).
LG CNS awarded a total prize money of 30 million KRW to the 10 teams that reached the finals of the ‘Optimization Grand Challenge 2024.’ Among the four teams that won the grand prize, excellence award, and merit awards, only university student teams will be exempted from the document screening process when applying for future employment at LG CNS. LG CNS also plans to open-source all submitted algorithm codes to enable their use for various purposes.
Hyun Shin-gyun, CEO of LG CNS, said, "Problems that are difficult to solve with only internal resources held by companies can be solved through ‘Mathematical Optimization.’" He added, "Going forward, LG CNS will continue to lead ‘customer value innovation’ based on optimization and data analysis capabilities."
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