Hanwha Systems' ICT division is introducing a new 'low-code' technology platform to its system development process and making a full-scale entry into the relevant 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 in Jung-gu, Seoul on the 28th.

The signing ceremony held that day was attended by executives from both companies, including Kim Yun-su, Senior Vice President of Technology at Hanwha Systems' Value Creation Division, and Mark Weaser, General Manager of OutSystems Asia Pacific.

LCAP is a low-code platform that minimizes complex coding processes to develop applications and systems quickly and efficiently. △It has various advantages, such as a user interface (UI) that allows intuitive confirmation of real-time low-code development status, △Securing in-house development capabilities and improving developer work efficiency, and △Scalability that facilitates convergence and development with generative AI and big data technologies.

Above all, LCAP maximizes system development time and cost efficiency by enabling the design, development, testing, deployment, and operation stages of traditional coding to be completed through a single platform. Furthermore, Hanwha Systems estimates that LCAP will reduce the likelihood of errors by reusing pre-developed components and increase system development and operation productivity by approximately 30% compared to existing systems.

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

Through this collaboration, Hanwha Systems and OutSystems will jointly explore business models leveraging LCAP technology. They plan to apply LCAP to system development processes across a wide range of industries, including manufacturing, defense, finance, and services, starting with smart factories and logistics. Hanwha Systems stated that this will contribute to accelerating the digital transformation of the manufacturing industry, which will benefit from 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 adopt digital technologies beyond 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 (approximately KRW 16.5 trillion) this year.

Kim Yun-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 in the industry.” He added, “Hanwha Systems will continue to work with OutSystems to improve the overall industrial structure, in addition to making the domestic manufacturing industry smarter.”