Hyundai Motor Group will expand its strategic partnership with KT Corporation (KT), Korea’s leading telecommunications company, to lead the future mobility market.
Hyundai Motor Group announced that it will push for comprehensive and extensive cooperation in next-generation communication infrastructure and ICT, including joint research with KT on 6G autonomous driving technology and Advanced Air Mobility (AAM) communication network based on satellite communication.
In addition to joint advanced research on future technologies, the two parties will also diversify their business partnership areas in 5G communication network-based, customised connected car services and security communication module technology collaboration by exchanging existing core competency of respective party.
Hyundai Motor Group and KT agreed to focus on advancing vehicle technologies in the field of Connectivity area, which is the basis for realising MECA (Mobility Service, Electrification, Connectivity, Autonomous).
Connectivity is a key element of MECA, which enables smooth technology operation only when a stable high-quality communication network is supported. To this end, the global automobile industry is fiercely competing to secure related technologies through partnerships with leading telecommunication companies and exchange of shares.
KT, which commercialised 5G for the first time in the world, is taking the lead in expanding the ecosystem of next-generation high-speed communication networks. In addition to landline and wireless communication networks, KT is actively engaged in convergence ICT and data services such as intelligent traffic control and integrated security, which is expected to make Hyundai Motor Group an important partner in strengthening its connectivity business.
The two parties agreed to acquire mutual shares through treasury stock exchange in order to create synergy in future businesses, enhance the execution and sustainability of mutual cooperation, and strengthen long-term partnerships.
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