Hanwha Systems ICT division is introducing a new 'low-code' technology platform to the system development process and making a full-scale entry into the related market.

Hanwha Systems announced on the 29th that it signed a memorandum of understanding (MOU) for business cooperation with Outsystems, a global leader in 'LCAP (Low-code Application Platform)', at the Hanwha Systems ICT headquarters located in Jung-gu, Seoul on the 28th.

The signing ceremony held on this day was attended by executives from both companies, including Kim Yun-soo, Executive Director of Technology at Hanwha Systems’ Value Creation Division, and Mark Weaser, General Manager of OutSystems Asia Pacific.

LCAP is a platform based on 'low-code', a technology that develops applications and systems quickly and efficiently by minimizing complex coding processes. △It has various advantages, such as a user interface (UI) that allows intuitive confirmation of real-time low-code development status, △Securing development capabilities within the company and improving developer work efficiency, and △Easy scalability for convergence and development with generative AI and big data technologies.

Above all, LCAP can maximize system development time and cost efficiency by enabling the design-development-test-deployment-operation stages of existing coding through a single platform. In addition, Hanwha Systems estimates that it will reduce the possibility of errors by reusing pre-developed components and improve system development and operation productivity by approximately 30% compared to the past.

OutSystems is an LCAP specialist company founded in Portugal in 2001 and headquartered in Boston, USA, with over 2,000 customers worldwide, including the US military, Mercedes-Benz of Germany, and Schneider Electric of France.

Through this collaboration, Hanwha Systems has decided to jointly discover business models utilizing OutSystems and LCAP-related technologies. It plans to apply LCAP to the system development process of various industries, including defense, finance, and services, starting with manufacturing such as smart factories and smart logistics. Hanwha Systems explains that through this, it will help accelerate the digital transformation of the manufacturing industry, which has advantages such as reduced labor costs and improved yields.

In addition, Hanwha Systems plans to directly engage in LCAP development projects targeting customers in various industries seeking to introduce digital technologies in addition to manufacturing. According to global market research firm Gartner, the LCAP market, which was worth $6.3 billion in 2021, is expected to grow rapidly to $12.4 billion (about 16.5 trillion won) this year.

Kim Yoon-soo, managing director of technology at Hanwha Systems’ Value Creation Division, said, “We expect the growth of the LCAP market to alleviate the recent shortage of IT developers that has been occurring in the industry,” adding, “Hanwha Systems will continue to work with OutSystems to improve the overall industrial structure in addition to making the domestic manufacturing industry smarter.”