Hyundai Motor Group is partnering with Saudi Arabia's Misk Foundation to nurture local young talent and collaborate in the smart city sector.
On the 30th of last month (local time), Hyundai Motor Group announced on the 1st that it signed a Memorandum of Understanding (MOU) with Saudi Arabia's Misk Foundation in Riyadh for the "Operation of a Local Youth Leadership Development Program and Collaboration in Smart City Projects."
The signing ceremony was attended by Lee Jae-yong, Head of Hyundai Motor Group's GSO Smart City Promotion Office, Badr Hamoud Al-Badr, Chairman of the Misk Foundation, and Omar Nazar, Vice Chairman. The Misk Foundation is a non-profit organization established in 2011 by Crown Prince Mohammed bin Salman of Saudi Arabia to cultivate young Saudi talent.
At the MOU signing ceremony held in Riyadh, Saudi Arabia on the 30th of last month, (from left in the photo) Lee Jae-yong, Head of Hyundai Motor Group Smart City Promotion Office, and Badr Hamoud Al-Badr, Chairman of the Misk Foundation, are posing for a commemorative photo. [Photo by Hyundai Motor Group]
Through this MOU, Hyundai Motor Group and the Misk Foundation agreed to collaborate on jointly planning and operating a leadership development program for Saudi youth and exploring business opportunities in the smart city sector.
Hyundai Motor Group and the Misk Foundation plan to provide and operate global internships and educational programs so that Saudi young talents can experience Hyundai Motor and Kia's innovative mobility technologies and develop future capabilities.
Additionally, Hyundai Motor Group will actively engage with local youth on sustainable futures by participating in the Misk Global Forum (MGF). The MGF is the largest youth-centered platform in Saudi Arabia, hosted by the Misk Foundation since 2016 for Saudi youth. More than 150,000 people have participated since 2016, with notable past speakers including Abdulaziz bin Salman, Saudi Minister of Energy, and Bill Gates, founder of Microsoft.
Furthermore, Hyundai Motor Group and the Misk Foundation will actively seek collaboration opportunities related to the construction of the 'Misk City (Mohammed Bin Salman Nonprofit City)' smart city currently being built in Riyadh, the capital of Saudi Arabia.
Lee said, "While actively seeking collaboration opportunities with the Misk Foundation to build future smart cities, we will also strive to promote Hyundai Motor Group's smart city vision and increase brand awareness among Saudi young talents."
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