- Model Solution signed a memorandum of understanding (MOU) with Hycore, a company specializing in AI robotic mobility, on August 28 in Paris, France - Focus on prototyping and mass production of AI-based robotic mobility, including autonomous driving electric wheelchairs - Model Solution actively collaborates with AI and robotics experts to foster its future core business   [Model Solution CEO Byung-il Woo and Hycore CEO Dong-hyun Park at the MOU signing ceremony (from right)] [CEOs of Model Solution and Hycore meet Korean Minister of Culture Yu In Chon (leftmost) at the Korea House during the Paris 2024 Paralympic Games]   Seoul, South Korea, August 29, 2024 — Model Solution, a total hardware platform company and subsidiary of Hankook & Company Group (formerly Hankook Tire Group), signed a memorandum of understanding (MOU) with Hycore Co., Ltd. (Hycore), a company specializing in AI mobility, on August 28 in Paris, France. The MOU focuses on prototyping and mass production of AI-based robotic mobility.   Hycore is a Korean company that utilizes proprietary technologies in synthetic motor control and AI-based autonomous driving to produce personal mobility devices, including LiDAR-based autonomous driving electric wheelchairs. The company also contributes to the expansion of sports for people with disabilities by sponsoring various sports events organized by the Korean Paralympic Committee.   On August 28, Model Solution and Hycore held the MOU signing ceremony at the Korea House, which is operating during the Paris 2024 Paralympic Games. The two companies agreed to collaborate on developing AI-based robotic mobility that can be widely used in various industries, such as autonomous driving electric wheelchairs for individuals with mobility impairments, logistics, and quarantine.   Through this agreement, Model Solution will play a key role in the entire mass production process, leveraging its advanced hardware manufacturing technology to create prototypes, while Hycore will be responsible for the product’s design and field-testing.   Through the MOU with Hycore, Model Solution aims to accelerate the development of products that integrate the innovative technologies and expertise of both companies. This collaboration is expected to significantly enhance its global competitiveness in the AI robot mobility sector, a key area of the future industry.   “We are honored to sign the MOU at the historic site of the Paris 2024 Paralympic Games,” said Byung-il Woo, CEO of Model Solution. “We are committed to enhancing social value across various fields, including improving convenience for individuals with mobility impairments through the development and mass production of products utilizing Model Solution’s innovative technology.”   “We hope this agreement will provide an opportunity for both companies to collaborate on developing future technologies,” said Dong-hyun Park, CEO of Hycore. “We strive to become a company that realizes technologies essential to every individual.”   Additionally, Model Solution is recognized for its industry-leading technology as an innovative hardware platform company. It has partnered with over 1,000 global companies, including major automotive manufacturers like Hyundai Motor Group and tech giants such as Google, Amazon, Samsung Electronics, and LG Electronics. In recent years, alongside the mobile industry, which has driven the company’s growth, it has been actively investing in R&D and forming partnerships with companies specializing in augmented reality (AR), AI, and robotics to foster its future core business.

- Innovative, advanced hardware development accelerates industrial AR market penetration - Model Solution and Virnect, a company that specializes in AI and XR technology, signed an agreement on July 2 to undertake joint research and development on smart goggles - The AR devices will be used in the semiconductor, display, and bio industries     Seoul, South Korea, July 3, 2024 — Model Solution, a total hardware platform company and a subsidiary of Hankook & Company Group (formerly Hankook Tire Group), signed an agreement with artificial intelligence (AI) and extended reality (XR) technology company Virnect to carry out joint research and development at Model Solution’s facility in Bucheon, South Korea, with the goal of creating smart goggles.   The two companies plan to develop, mass-produce, and launch an AR device that can be worn like goggles for use in a wide range of industries including semiconductor, display, and bio. Model Solution will design, develop, and manufacture the necessary hardware. Virnect will develop applications for the product and will also design the user interface (UI) and user experience (UX).   The resulting smart devices will incorporate innovative technologies from both companies. Expected benefits include cost savings, productivity improvements, and increased convenience for global enterprises operating large-scale facilities and consumers.   By collaborating with Virnect, Model Solution aims to strengthen its competitiveness in the global AR and XR market while applying the technology and know-how it has gained through the development of industrial AR devices since 2021.   “This agreement with Virnect — a digital transformation (DX) partner with digital twin, artificial intelligence (AI), and extended reality (XR) solutions — is the starting point that will allow both companies to grow into AR-XR specialists capable of supplying both hardware and software,” said Model Solution CEO Byungil Woo. “We will introduce innovative devices targeting the global market as a result of this cooperation.”   Meanwhile, Model Solution gained recognition as an innovative hardware platform company and attracted over 1,000 partners worldwide. These include automaker Hyundai Motor Group, as well as technology powerhouses Google, Amazon, Samsung Electronics, and LG Electronics. In addition to pursuing excellence in smartphones, laptops, and other mobile communication devices, which have driven growth in recent years, the company has set core strategic tasks in AR, robotics, and medical devices and continues to invest heavily in research and development.   In particular, the MS-AR20SE, a head-mounted industrial AR display product that Model Solution is developing, is currently undergoing field tests at Hankook Tire & Technology’s plants in Geumsan, South Korea, and Tennessee, United States, with the goal of launching the product in South Korea in the second half of this year. The MS-AR20SE will be equipped with core functions necessary for industrial sites such as remote support and safety inspections, and Model Solution is considering using software from Virnect for the remote support application to enhance the product.