Hyundai Motor Group, University of London SOAS Share Research on Africa Mobility Industry

Participants pose for a photo at the SOAS CSST research results briefing. Front row, from left: Antonio Andreoni, co-director of SOAS CSST; Pamela Mondliwa, head of the Research and Information Department at South Africa’s Industrial Development Corporation; Ha-Joon Chang, co-director of SOAS CSST; David Masondo, deputy finance minister of South Africa; Sung Kim, president in charge of strategic planning at Hyundai Motor Group; Kim Heung-soo, vice president of Hyundai Motor Group’s GSO; Shin Yong-seok, head of Hyundai Motor Group’s HMG Management Research Institute. Back row, from left: Jeong Heon-ju, professor at Yonsei University; Richard Kozul-Wright, research professor at SOAS CSST; Lee Sam-yeol, deputy director of Yonsei University’s Institute of African Studies; Bang Yeon-sang, director of Yonsei University’s Institute of African Studies; Lee Keun, emeritus professor at Seoul National University; Park Cheol, managing director at Hyundai Motor Group’s New Business Strategy Office; Simon Roberts, professor at SOAS; Sophie van Huellen, professor at the University of Manchester. [Photo by Hyundai Motor Group]

Hyundai Motor Group said it held a briefing on April 28 at its headquarters in Seoul to share Africa-related research results with the Centre for Sustainable Structural Transformation, or CSST, under SOAS University of London.

SOAS is one of the 17 colleges that make up the University of London and specializes in Asian and African studies. CSST, established under SOAS in 2024, has been studying long-term industrial policy and practical tasks for Africa’s sustainable growth under the leadership of economist Ha-Joon Chang.

Hyundai Motor Group said it supported CSST’s launch and backed research on supply chains, renewable energy, mineral resources and infrastructure development, which it described as key elements of sustainable growth in Africa. The group said the work is intended to deepen its understanding of the region and explore opportunities to enter or expand businesses in areas including mobility, energy, resources and construction.

The briefing, held under the theme “Global competitiveness and business growth potential of Africa’s mobility industry,” shared findings from research conducted over the past two years. Attendees included CSST co-directors Chang and Antonio Andreoni, as well as participants from SOAS, the University of Manchester, Seoul National University, Yonsei University, and officials from South Africa’s government and public institutions.

Hyundai Motor Group participants included Sung Kim, president in charge of strategic planning; Shin Yong-seok, head of the HMG Management Research Institute; and Kim Dong-wook, vice president of the Strategic Planning Office.

Sessions covered energy transition and green hydrogen, critical minerals and infrastructure development, global supply chain restructuring, Africa business models, and industrial policy and development finance. Participants reviewed Africa’s growth potential and challenges through presentations and discussions.

“Hyundai Motor Group believes the next stage for global sustainable growth is the Global South, especially Africa,” Sung Kim said, calling the research “a practical starting point” for building a long-term partnership with the region.

He added that South Korea’s experience of growing through challenges could offer meaningful implications as African countries design their own development paths.

Chang said the core of “sustainable structural transformation” is aligning government policy and corporate strategy with social and environmental goals. Africa’s transformation, he said, requires cooperation in which governments, companies, public institutions and local communities share responsibility under a common vision.

Hyundai Motor Group said it will continue to explore mid- to long-term research and cooperation with domestic and overseas institutions linked to Africa’s mobility industry.

A Hyundai Motor Group official said the event provided a venue for companies and academia to share insights and discuss practical solutions during Africa’s industrial transformation, adding that the group will seek business opportunities based on a deeper understanding of the region’s market and industrial environment.

* This article has been translated by AI.

Han Jiyeon hanji@ajunews.com