It has been found that the Hyundai Motor Group recently set up a venture investment team in its Strategic Technology Research Institute.
The team is to find and grow promising venture firms and startups standing out in South Korea, the Silicon Valley, etc. It is expected to choose its partners solely based on the value of their business and adopt various methods in working with them, ranging from strategic investment to equity investment.
The institute was established early this year. The purpose of the institute is to conduct concentrated research activities in the fields of information and communications technology, artificial intelligence, novel industrial materials, energy, robotics, sharing economy and so on. The group invited Dr. Ji Young-jo to boost its activities. Earlier, he was in charge of the launching of new business and acquisition of venture firms and startups at Samsung Electronics for about 10 years.
These days, the Hyundai Motor Group is focusing on research on fields related to the fourth industrial revolution, examples of which include self-driving vehicles. Its research activities are being led by the group’s vice chairman Chung Eui-sun himself. This is to seek new growth opportunities and take the lead in the future car market.