Big Data, Big Venture
HD Hyundai has entered the AI business by securing a stake in the Korean subsidiary of Palantir, which provides public sector AI services to U.S. intelligence agencies and the military.
According to sources in the Korean business community on Dec. 21, HD Hyundai secured a 25.1 percent stake in Palantir Korea, the Korean subsidiary of U.S.-based Palantir, in December.
Their new joint venture will introduce and provide customized big data platform services to the public and private sectors in Korea. HD Hyundai will be responsible for establishing a foothold in the Korean market and devising an entry strategy. Palantir will build and run big data platforms and also provide software to its customers.
Founded in 2003 by PayPal founder Peter Thiel, Palantir’s enterprise big data platform foundry has DL E&C and Kolon Benit as its clients in Korea in addition to HD Hyundai Group. Its global customers include companies such as Airbus.
Gotham, Palantir’s platform for public organizations, has the U.S. military and the Central Intelligence Agency (CIA) among its customers. The platform is known to have contributed to the killing of Osama bin Laden and to anti-Russian operations in the Ukraine-Russia war.