HD Hyundai entered the AI business by acquiring a stake in Palantir, a Korean subsidiary that provides public sector AI services to intelligence agencies and the US military, Business Korea reported on March 22.
In December, HD Hyundai acquired a 25.1% stake in Palantir Korea, the Korean subsidiary of US-based Palantir, according to the sources.
The new joint venture will provide services to the public and private sectors in South Korea. HD Hyundai will be responsible for strengthening its position in the Korean market and developing an entry strategy. Palantir will build and launch big data platforms and provide software to its customers.
Founded in 2003 by PayPal founder Peter Thiel, Palantir is building an enterprise big data platform. In addition to HD Hyundai Group, its Korean clients include DL E&C and Kolon Benit. Palantir’s global customers include companies such as Airbus.
Source: Rossa Primavera
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