Hyundai partners with University of London for African market strategy

Hyundai Motor Group announced on Friday its plan to establish two research centers in conjunction with the University of London (UoL) to delve into growth strategies tailored to the African market.

Hyundai and UoL's the University's School of Oriental and African Studies (SOAS) held the opening ceremony of the Institute for Development Leadership Dialogue (DLD) on Oct.18.

SOAS is one of the 17 faculties within the University of London, which is renowned for its specialized research on Asia and Africa.

Hyundai revealed its intentions to launch the Centre for Sustainable Structural Transformation (CSST) in February next year. This initiative aims to enrich the company's foundational comprehension of the African market and scrutinize sustainable growth trajectories for the continent.

The research, steered by the centers, will pivot around four focal domains: the transition of energy, exploration of mineral resources, reshaping of the international supply chain, and blueprinting new infrastructural developments.

Outcomes from these research endeavors are anticipated to frame socio-economic advancement strategies for developing nations and furnish tangible insights on the roles played by private enterprises, including Hyundai Motor Group, in conjunction with the administrative bodies of these countries.

Write to Sungsu Bae at baebae@hankyung.com