SEOUL, Dec. 2 (Yonhap) -- Hyosung Heavy Industries Corp., a power equipment manufacturer under Hyosung Group, said Monday it has signed a memorandum of understanding (MOU) with state-run utility firm Korea Electric Power Corp. (KEPCO) to develop upgraded power facility management systems.
Under the agreement, the two sides will cooperate on developing maintenance and diagnostic solutions for power facilities.
The deal will allow its asset management system (AMS) to use KEPCO's data on power facility operation and maintenance, according to Hyosung Heavy.
Hyosung Heavy's artificial intelligence-based AMS provides real-time diagnosis on power facilities, helping operators to reduce maintenance and repair costs.
Hyosung Heavy's AMS, which it commercialized last year, is currently used by companies like SK Energy Co. and POSCO.
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