S2W (488280.KQ), a big data analytics artificial intelligence company, announced Thursday that it has signed a strategic partnership with Indonesia's Royal Sumatera Group (RS Group) in areas including big data analytics and generative AI.
RS Group operates about 20 affiliates across various industries including defense, medical device manufacturing, and real estate development, primarily in Indonesia and across Southeast Asia.
The two companies plan to create synergies by combining S2W's AI-based data intelligence and cybersecurity technologies with RS Group's business portfolio.
S2W aims to use the partnership with RS Group as a springboard to enter Indonesia's business-to-business (B2B) market and expand its business across the ASEAN region. In September last year, S2W signed a contract worth approximately 6 billion won in cumulative value with Indonesian government agencies to supply XARVIS, an AI security platform for public and government institutions.
"We will expand S2W's business presence across Indonesia and Southeast Asia by adding synergies from cooperation with RS Group to the technological capabilities we have proven through two solution supply contracts with government agencies," said Seo Hyun-min, Head of Strategic Planning at S2W.
"If RS Group's business capabilities combine with S2W's AI and big data technology, we will be able to generate tangible results not only in Indonesia but across ASEAN," said Lee Seung-jun, CEO of RS Group. "We will gradually materialize cooperative projects that both companies can pursue through this partnership."
