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The Korea Herald
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THE INVESTOR
March 29, 2024

Automobiles

Hyundai heir launches new future technology lab

  • PUBLISHED :February 22, 2017 - 14:28
  • UPDATED :February 22, 2017 - 14:55
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[THE INVESTOR] South Korea’s largest automaker Hyundai Motor has established a new research institute that will focus on developing future technologies, the company said on Feb. 22.

Hyundai Motor Vice Chairman Chung Eui-sun, the heir apparent of the Korean auto giant, spearheaded the effort to create the lab, named the Strategic Technology Research Institute, highlighting the emphasis the automaker places on securing new growth engines. 




The new institute, set up inside Hyundai Motor’s R&D Center in Uiwang, Gyeonggi Province, will mainly focus on developing cutting-edge technologies such as robotics, artificial intelligence, new materials, the sharing economy and information and communication technology.

“The founding of the Strategic Technology Research Institute is part of Hyundai Motor Group’s determination to lead the industrial revolution and move beyond simply responding to the changing environment, while providing remarkable value to the customers,” the automaker said in a statement.

The new institute brings Hyundai’s existing researchers as well as large number of new recruits of engineers and specialists in various industries, the company said. The head of the STRI has not been decided, but the automaker is expected to recruit outside of the automaker.

The STRI will be divided into two divisions. One will have engineers in charge of research and development, while the other will be made up of market strategies developing new business models based on future trends. It will also find ways to commercialize the new technologies.

Hyundai Motor Group has been investing heavily in research and development capacities in future technology. Last week, the automaker opened a new research center for autonomous cars, named Intelligent Safety Technology Center, to focus on developing fully autonomous cars, as well as conduct research into artificial intelligence based driverless car technologies.

By Ahn Sung-mi (sahn@heraldcorp.com)

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