Palantir Technologies last week announced a major expansion of its partnership with South Korea's Hyundai Heavy Industries Group by bringing Palantir Foundry to additional companies within the conglomerate.
Korea Shipbuilding & Offshore Engineering (KSOE) will use the Palantir Foundry operating system across its shipbuilding subsidiaries — Hyundai Heavy Industries Co., Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard — in order to advance the "Future of Shipyard" vision.
Teams across the shipbuilding subsidiaries will use Foundry to help make better, data-driven decisions, focused especially on safety and operational efficiency. During the successful pilot phase, shipbuilding teams used the data management platform to improve architectural design of ships, ensure quality on production lines and bring big data analysis to standard safety procedures.
The expansion, valued at $20 million over five years, deepens Palantir's partnership with Hyundai Heavy Industries and helps with the digital transformation of South Korea's shipbuilders.
As announced in January, Foundry is already in use across Hyundai Oilbank for crude oil selection and daily refinery operations. Hyundai Doosan Infracore, another HHI Group subsidiary, has been using Foundry since 2019 for process management, parts management and supply chain optimization. These contracts are valued at over $25 million, bringing the total of Palantir's contracts to more than $45 million over five years.