SEOUL, Jan. 12 (Korea Bizwire) — Hyundai Engineering & Construction Co., a leading South Korean builder, said Monday it will make an equity investment in a local start-up specializing in artificial intelligence (AI)-based 3D design solution, as part of efforts to preemptively introduce smart construction technology.
TENELEVEN Inc., founded in 2014, is a start-up with specialty in AI-based automatic construction design service that offers an optimal design for public housing through analysis of the site’s terrain and prospects and architectural laws.
Hyundai E&C will acquire a 6 percent stake worth about 900 million won (US$818,700) in TENELEVEN, according to industry sources.
The company announced its 2025 strategy back in October last year, in which it vowed to pursue new business opportunities and enhance its mid- and long-term competitiveness through preemptive and strategic investment in construction-related start-ups.
In collaboration with TENELEVEN, Hyundai E&C plans to develop an AI-based automatic 3D design system for public housing, aimed at strengthening its public house design capabilities and sales competitiveness.
The company also plans to seek new business opportunities in the modular housing market by leveraging its automatic design solution.
Modular housing refers to a method of building a house that is carried out by bringing to a site and assembling standardized modules that are manufactured at a factory.
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