Combining Port Expertise with Advanced Technology
Expanding the Startup Ecosystem
Busan Port Authority (BPA) and Hyundai Motor Company signed a business agreement on October 23 for "AI-Based Smart Port and Startup Cooperation."
This initiative is expected to serve as a foundation for revolutionizing port logistics with AI technology and expanding the startup ecosystem.
Busan Port Authority and Hyundai Motor Company Sign Technical Cooperation Agreement for AI-Based Smart Port Implementation and Expansion of Startup Ecosystem. Photo by BPA
Through this agreement, the two companies plan to combine BPA's expertise in port operations with the advanced technological capabilities-such as AI, autonomous driving, and robotics-of both in-house and external startups invested in and nurtured by Hyundai Motor Group. Their goal is to drive the digital transformation and enhance the competitiveness of Busan Port, as well as to broaden the base of the startup ecosystem.
BPA and Hyundai Motor Company intend to closely collaborate in a variety of areas as a result of this agreement, including: applying new technologies from Hyundai Motor Group's in-house and external startups to the shipping and port industries; creating a new industry ecosystem related to smart ports; and providing and supporting the expansion of port-related test beds.
As a follow-up to this agreement, BPA plans to implement proof-of-concept (PoC) projects introducing new technologies from Hyundai Motor Group's in-house and external startups-such as AI and UWB (Ultra-Wideband) based safety solutions-at one hinterland complex and one terminal within Busan Port. To this end, BPA stated it will hold regular meetings and maintain ongoing communication with Hyundai Motor Company.
AI and UWB (Ultra-Wideband) based safety solutions refer to wireless communication technologies that can precisely determine the location of people and equipment down to the centimeter.
At the signing ceremony, Jeong Wondong, Head of Management Division at BPA, said, "Collaboration with Hyundai Motor Group, which possesses advanced technologies such as artificial intelligence and autonomous driving, will further accelerate the digital transformation of Busan Port. We will continue to develop Busan Port into a safe and efficient AI-based smart port."
No Kyuseung, Executive Director at Hyundai Motor Company, stated, "Hyundai Motor Group's Zero One is actively pursuing collaboration for product, technology, and business innovation with a variety of partners through its open innovation platform. Through this partnership with Busan Port Authority, we look forward to seeing Zero One startups contribute to the advancement of the maritime and port sectors."
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