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.