Hanwha Systems Begins Discovering AI Startups... Exploring New Business Opportunities, etc.

AI Yangjae Hub and Business Agreement

Startup and Technology Exchange, etc.

Hanwha Systems signed a Memorandum of Understanding (MOU) for business cooperation in the field of artificial intelligence (AI) with AI Yangjae Hub, which discovers and nurtures promising AI startups. From the left, Yoon Jong-young, Director of AI Yangjae Hub, and Kim Yoo-shin, Director of Hanwha Systems Future Innovation Center. (Photo by Hanwha Systems)

From the left, Yoon Jong-young, Director of AI Yangjae Hub, and Kim Yoo-shin, Director of Hanwha Systems Future Innovation Center.JPG

[Asia Economy Reporter Moon Chaeseok] Hanwha Systems announced on the 23rd that it has signed a memorandum of understanding (MOU) for AI business cooperation with AI Yangjae Hub, which discovers and nurtures promising artificial intelligence (AI) startups.

Hanwha Systems plans to discover promising AI startups with proven technological capabilities together with AI Yangjae Hub and build cooperative relationships. They will conduct regular technology exchange networking with startups residing in AI Yangjae Hub. They will share technology trends needed in the industry. Through strategic partnerships, Hanwha Systems and startups plan to jointly discover new technology-based businesses.

Kim Yushin, Head of the Future Innovation Center at Hanwha Systems, said, "Hanwha Systems is focusing its capabilities on achieving digital transformation based on AI and data, and is promoting AI-based innovation in various fields such as manufacturing, defense, and services," adding, "We plan to expand various collaborations with startups that have growth potential." He also added, "In particular, we will create cases of 'win-win' in areas where our company has competitiveness." Yoon Jongyoung, Director of AI Yangjae Hub, said, "We expect great synergy between companies affiliated with AI Yangjae Hub and Hanwha Systems through this agreement," and added, "We will continue to support startup growth by fostering cooperation between AI startups and large and medium-sized enterprises."

AI Yangjae Hub is the first specialized institution for nurturing AI startups in Korea, opened in December 2017 to establish the Yangjae area in Seoul as an AI specialized hub. It is an institution established by the Seoul Metropolitan Government and operated by the Industry-Academic Cooperation Foundation of Kookmin University and the Electronics and Telecommunications Research Institute (ETRI). As of this month, it has secured 100 resident companies and over 130 membership companies. It operates one-stop corporate support programs such as open innovation, testbed programs, investment attraction, networking, management support services, and AI education.

Hanwha Systems established the "Human-Centered AI Joint Research Center" with Korea University College of Engineering in 2019 to cooperate in nurturing experts. In 2020, it launched the AI brand "HiQube," optimized for next-generation digital transformation projects and non-face-to-face business. Earlier this year, it released the AI-based university academic, education, and employment support solution brand "ai-CODI." It is strengthening technological competitiveness through industry-academic cooperation and research and development in satellite and aerial image analysis and super-resolution imaging fields.

This content was produced with the assistance of AI translation services.