Hankook subsidiary Model Solution signs agreement with Virnect for joint development of smart goggles

Innovative, advanced hardware development accelerates industrial AR market penetration
AR devices to be used in semiconductor, display, and bio industries

Neu-Isenburg, Germany, 16 July 2024 – Model Solution, a total hardware platform company and subsidiary of Hankook & Company Group has signed an agreement with the artificial intelligence (AI) and extended reality (XR) technology company Virnect. The deal encompasses the joint research and development of smart googles at Model Solution’s facility in Bucheon, South Korea.

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 consumers as well as global enterprises operating large-scale facilities.

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 since 2021 through the development of industrial AR devices.

“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.”

Model Solution: customised solutions for AR, robotics and medical devices

Model Solution has 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. Growth in recent years has been driven by excellence in smartphones, laptops, and other mobile communication devices. In addition, the company has set core strategic tasks in AR, robotics, and medical devices and continues to invest heavily in research and development.

Model Solution is developing the MS-AR20SE, a head-mounted industrial AR display product that is currently undergoing field tests at Hankook Tire & Technology’s plants in Geumsan, South Korea, and Tennessee, United States. The goal is to launch 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. Furthermore, Model Solution is considering product enhancement using software from Virnect for the remote support application.

Caption:

From left: Byungil Woo, CEO of Model Solution, and Taejin Ha, CEO of Virnect, have signed a cooperation agreement.

About Hankook Tire

Hankook Tire manufactures globally innovative, award-winning radial tyres of proven superior quality for passenger cars, light trucks, SUVs, RVs, trucks, and buses as well as motorsports (circuit racing/street circuits/rallies).

Aspiring to bring consumers the utmost excellence in product quality, technological excellence and driving satisfaction, Hankook Tire continuously invests in research and development maintaining five R&D centres and eight production facilities around the world. Bespoke tyre solutions for the European markets as well as European Original Equipment according to the requirements of leading premium car manufacturers, are developed in the company’s regional Technical Centre in Hanover/Germany. Production for the European region is taking place in the state-of-the-art manufacturing site in Rácalmás/Hungary which was inaugurated in June 2007 and is continuously being expanded.

Hankook Tire’s European headquarters are located in Neu-Isenburg near Frankfurt am Main in Germany. The manufacturer operates further branches in several European countries and sells its products through regional distributors in other local markets. Hankook Tire employs approximately 20,000 people worldwide and sells products in over 160 countries. The company has been the technical partner and exclusive tyre supplier of the Generation 3 for the FIA ABB Formula E World Championship since 2023. Internationally leading car manufacturers rely on tyres made by Hankook for their original equipment. Approximately 38 percent of the company's global sales are generated within the European region.

For more information please visit www.hankooktire-mediacenter.com or www.hankooktire.com

Hankook Tire Europe GmbH | Marketing Communications Europe | Siemensstr. 14, 63263 Neu-Isenburg | Germany