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Hyosung Joins Hands with MIT in the U.S. Jan.30, 2019

Hyosung Joins Hands with MIT in the U.S. 

 

Hyosung is looking to discover a new business model based on innovative technology together with scholars and researchers from the Massachusetts Institute of Technology (MIT).

MIT professors and six global startups visited Hyosung’s headquarters in Mapo on January 29 and held the “MIT ILP (Industrial Liaison Program) seminar.” Dr. Polina Anikeeva and Dr. Rafael Gomez-Bombarelli of the Department of Materials Science and Engineering participated as lecturers. Hyosung’s professionals in patent, polymerization, and strategy joined the seminar to seek new growth engines by converging Hyosung’s original technology and MIT’s innovative technologies.

□ Along with MIT, Global tech startups present their innovative technologies
Professor Polina Anikeeva, a renowned nanotechnology expert, lectured on nano optical fibers that can treat nervous system diseases, artificial muscles developed by mimicking animal and plant fibers, and smart fibers. Professor Rafael Gomez-Bombarelli explained how to develop new materials using big data and AI in electronic materials, new drug development, and the battery industry.
In addition, six global tech startups introduced their cutting-edge strategies that contributed to their rapid growth. Privo Technologies presented a drug delivery platform that can help treat certain cancer cells, including oral cancer and brain tumors. Affectiva specializing in AI also drew attention with its big data technology to analyze detected data, such as facial ex-pressions, voices, and pulse rates.
Other presenters include Liquid Piston that manufactures a rotary engine with improved size, efficiency, and vibration, Osaro that develops software to improve the functionality of industrial robots, Silverthread that provides a solution to companies and organizations by identifying any inefficiencies, and Catalog that developed a big data storage technology inspired by DNA that contains information. These firms have operated for a relatively short period from 2 to 10 years but seen rapid growth thanks to strong competitiveness based on advanced technologies.

□ Teaming up with MIT, Hyosung plans to expand exchange of advanced technologies and cultivate the world’ best DNA
The MIT ILP program and seminar have taken place under the technology-centric management philosophy of Chairman Hyun-Joon Cho. Chairman Cho has strived to nurture new future growth engines by converging advanced technologies, including IT solutions based on big data, with Hyosung’s existing major businesses. In particular, he has stressed the importance of endless innovation of technologies, which are the start of the final products, in order to increase customer satisfaction.
Last year, Hyosung TNC, together with its IT affiliate Hyosung ITX, developed a program that can immediately detect quality defects in the manufacturing process and address the issues by combining Internet of Things (IoT) with information and communication technology (ICT) technologies such as big data analysis and smart sensors. Hyosung Heavy Industries also developed the substation Asset Health Management Solution (AHMS) based on ICT technology, utilizing big data to identify signs of equipment abnormalities in advance.
Chairman Cho added, “Hyosung is a company that has pursued securing original technologies and technological innovation. In addition to technological innovation, technological convergence which can occur without boundaries between technologies will become an important pillar. We will continue technical exchanges through regular seminars with top scholars and researchers in the world in a bid to stay ahead of trends. In combination with Hyosung’s original technologies, we also look forward to creating new business models that will lead Hyosung’s next 100 years.”

□ MIT introduces its innovative technologies to global firms
The MIT ILP is a support program where global corporations and MIT researchers mutually benefit from their collaboration. MIT introduces information and research results on various areas including ICT, new materials, innovative manufacturing, and healthcare to corporate partners while the companies consistently exchange technologies and information with MIT faculty. Currently, Korean companies participating in the ILP include Samsung Electronics, Hyundai Motors, LG Group, Doosan Heavy Industries & Construction, and Samyang Group.

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