Starting next year, Samsung SDS will oversee and manage the IT infrastructure and applications of the refiner S-Oil. Samsung SDS CEO Lee June-hee and S-Oil. President Ryu Yul formalized an information technology outsourcing (ITO) agreement at a ceremony held at S-Oil's headquarters in the Mapo District of Seoul.
According to the contract, Samsung SDS will deliver operational and management services for all of S-Oil’s IT infrastructure, encompassing its data center and applications, starting March next year until 2029.
Samsung SDS stated it intends to speed up S-Oil’s digital transformation by improving IT governance and offering tailored IT evaluations, consulting services, and assistance with cloud migration.
Also Read: China Vanke Chairman Abruptly Resigns From Stressed Builder
S-Oil previously managed its data infrastructure and applications independently, but has chosen to enter into an integrated ITO contract with Samsung SDS to boost its competitiveness. S-Oil aims to enhance its operations through the contract while establishing a digital ecosystem founded on bolstered security systems.
"The agreement represents a significant advancement in S-Oil's digital transformation," Ryu remarked at the event. “By collaborating with Samsung SDS, we can enhance the stability and efficiency of our IT services and react swiftly to the rapidly evolving business landscape.”
Lee stated that the agreement signifies “the start of a future-focused collaboration between the two firms,” noting that Samsung SDS will generate synergies through its alliance with S-Oil while enhancing its competitiveness in the global arena.
Samsung recently announced that it will offer AI-driven simultaneous interpretation at the Pacific Insurance Conference, starting Tuesday in Seoul.
The Brity Copilot platform from the company will provide live interpretation in English, Japanese, Chinese, and Korean for the biggest insurance industry event in the Asia-Pacific region, uniting 80 companies.
Brity Copilot employs generative AI to enhance collaboration at work, encompassing email, messaging, video conferences, and document handling. Samsung SDS is additionally creating a personal agent function intended to perform activities according to user-specified objectives.
Also Read: Trump Arrives in Korea for Summit With Lee in Gyeongju
Additionally, Samsung intends to allocate approximately $310 billion in investments during the next five-year period, with a primary emphasis on developing artificial intelligence technologies in response to the increasing worldwide requirement for AI infrastructure.
The large South Korean business group will allocate financial resources to support initiatives, specifically a cutting-edge microchip manufacturing facility located in Pyeongtaek, with planned commencement of production set for the year 2028.
Samsung Electronics, which serves as the conglomerate's primary enterprise and a significant semiconductor memory provider, along with subsidiary companies like Samsung SDS, that intend to establish two artificial intelligence data centers in South Jeolla and Gumi, are critical participants in this strategic initiative.
Also Read: HD Hyundai Promotes Founder's Grandson to Chairman
In addition to AI-related efforts, Samsung SDI, the company's electric vehicle battery division, is investigating the establishment of a manufacturing facility for advanced battery technologies within South Korea.
This declaration comes in the wake of South Korea's commitment to increase financial investments in artificial intelligence technologies and mirrors the worldwide growing enthusiasm for AI development and semiconductor manufacturing.