"Exploring Korea-Africa Cooperation Plans"…Hyundai Motor Group Hosts Business Forum

Hyundai Motor Group held a business forum to explore cooperation plans for sustainable development between Korea and Africa.

On the 25th, Hyundai Motor Group hosted the '2024 Korea-Africa Business Forum' at the Crystal Ballroom of Lotte Hotel in Jung-gu, Seoul, together with the Korea-Africa Foundation and the Centre for Sustainable Structural Transformation (CSST) under SOAS, University of London, UK.

SOAS is one of the 17 faculties that make up the University of London, specializing in research on developing regions such as Africa. The CSST under SOAS, established in February with sponsorship from Hyundai Motor Group, is an institution led by Professor Ha-Joon Chang of the University of London that conducts research on supply chains, renewable energy, mineral resources, and infrastructure development in the African region.

The forum was held under the theme of "New Korea-Africa Joint Cooperation Strategy in an Era of Uncertainty." It was organized to discuss ways for Korea and Africa to mutually cooperate as strategic partners for sustainable development amid ongoing geopolitical uncertainties.

Kim Gyeon, President of HMG Institute of Management, which hosted the forum, stated, "The African region is an essential partner for us in future coexistence and prosperity, including green transition," adding, "This forum marks the time to seek practical ways for our country to become a future-oriented and attractive cooperation partner ahead of competing nations."

The forum featured speakers including Rob Davies, former Minister of Industry of South Africa; Silili Mawala, President of the United Nations University (UNU); Said Mouline, Director General of Morocco's Atomic and Nuclear Safety and Security Authority (AMSSNuR); Joan Bayat, Chief Operating Officer (COO) of South Africa's Industrial Development Corporation (IDC); Marit Kito, Acting Director of the African Minerals Development Centre (AMDC); Timothy Dickens, Chairman of the South African Chamber of Commerce in Korea; Hong Sun-young, Vice President of the Export-Import Bank of Korea; and Kim Ki-hyun, Head of Global Cooperation Division at the Korea International Trade Association.

Additionally, key African figures including ambassadors and embassy officials from nine African countries in Korea, as well as Hyundai Motor Group officials such as Kim Gyeon, Vice President of HMG Institute of Management; Kim Dong-wook, Vice President of Strategic Planning Office; Kim Heung-soo, Vice President of GSO; Kim Il-beom, Vice President of GPO; Professor Ha-Joon Chang, Economics Professor at SOAS, University of London and Co-Director of CSST; and Yeo Woon-gi, Chairman of the Korea-Africa Foundation, attended the forum.

The forum was divided into closed and open sessions. In the closed session, presentations and discussions were held on the vision for Korea-Africa economic cooperation and multifaceted practical measures.

In the first session focusing on renewable energy and mineral resources, presentations included ▲investment in alternative energy (nuclear and renewable energy) by Said Mouline, Director General of Morocco's AMSSNuR, and ▲energy transition and South Africa's green hydrogen commercialization strategy by Joan Bayat, COO of South Africa's IDC.

In the second session covering infrastructure and supply chains, presentations included ▲the importance and vision of digitalization for sustainable industry in Africa by Silili Mawala, President of the United Nations University, and ▲opportunities and challenges that the global green transition presents to Africa by Seo Sang-hyun, Senior Researcher at POSCO Research Institute.

Key political and economic figures from Africa attending the forum are scheduled to tour Hyundai Motor Group’s Namyang Research Center, a core R&D hub, on the 26th. A Hyundai Motor Group official stated, "African dignitaries will be introduced to Hyundai Motor Group’s future mobility development status and will experience various advanced technologies."