Exclusive: Palantir Inks HD Hyundai Deal Worth Hundreds of Millions, CEO Bullish on Korea

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U.S. data analytics firm Palantir has signed an expanded software agreement with South Korea’s HD Hyundai, a deal worth hundreds of millions of dollars over several years, according to a person familiar with the matter.

The agreement deepens a partnership that began in 2021 and strengthens Palantir’s presence in heavy industry in South Korea. The companies held a signing ceremony during the World Economic Forum in Davos, where Palantir set up temporary offices. While Palantir declined to disclose financial terms, the deal broadens earlier collaboration into an enterprise-wide arrangement.

Palantir’s software integrates data from across operations and uses automation and artificial intelligence to guide decision-making. With HD Hyundai, the technology has been applied to shipbuilding, construction equipment and energy-related operations. The companies have said HD Hyundai is now building ships around 30% faster by using Palantir tools to better manage materials, machinery, planning and schedules.

Palantir chief executive Alex Karp said he is “very bullish” on South Korea, calling it an innovative and dynamic market. He added that while Palantir remains primarily focused on the United States, Korea stands out as a key international opportunity as global demand for the company’s software continues to grow.

Fintech Airwallex Buys South Korea’s Paynuri in Asia Expansion

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Australia-founded fintech Airwallex has acquired South Korea’s Paynuri, securing key local licences that will allow it to operate directly in the country as it accelerates expansion across Asia.

Airwallex said the deal grants it Paynuri’s Payment Gateway and Prepaid Electronic Payment Instrument licences, along with a Foreign Exchange Business registration. Financial terms were not disclosed. Co-founder and president Lucy Liu said the acquisition removes reliance on third-party intermediaries and enables direct operations in South Korea.

The company plans to launch global business accounts and payment acquiring services in South Korea in 2026, followed later by spend-management products. Airwallex also aims to build a local team of about 20 staff by the end of 2026 across sales, compliance, and product support.

The move follows a December funding round that valued Airwallex at $8 billion, around 30% higher than its previous valuation. General manager for Asia-Pacific Arnold Chan said South Korea’s fast-growing ecommerce and entertainment sectors offer strong opportunities for Korean businesses expanding overseas.

Airwallex reported $1.2 billion in annualised revenue and $266 billion in annualised transaction volume in December, underscoring its rapid global growth.

Roche’s Genentech Doubles North Carolina Facility Investment to About $2 Billion

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Genentech, a unit of Roche, said it will more than double its planned investment in a biomanufacturing facility in North Carolina to about $2 billion, reinforcing its commitment to expanding production in the United States.

The facility, located in Holly Springs, North Carolina, is expected to become operational by 2029 and will focus on manufacturing next-generation treatments for metabolic conditions, including obesity. Genentech said the expanded investment will significantly increase production volumes and manufacturing capacity at the site.

The project is expected to support more than 2,000 jobs, including around 500 high-wage manufacturing roles and approximately 1,500 construction jobs. The expansion builds on an initial investment of more than $700 million announced in May last year, as the company sought to strengthen its U.S. footprint.

The move aligns with broader efforts by major pharmaceutical companies to boost domestic manufacturing, amid calls from U.S. President Donald Trump for drugmakers to onshore more production. Roche and Genentech have said the investment forms part of a wider $50 billion commitment to the U.S. market.