Hyundai Motor Group Launches 125 Billion Won Fund
to Invest in New Asian Startups
Hyundai Motor Group announced on May 26 that it has established the 'ZER01NE 3rd Fund' to invest in startups with innovative technologies and creative ideas.
On the 21st, attendees of the Hyundai Motor Group Zero One 3rd Fund Formation General Meeting are taking a commemorative photo at Dreamplus Gangnam in Seocho-gu, Seoul. Photo by Hyundai Motor Group
On May 21, the general meeting for the formation of the ZER01NE 3rd Fund was held at Dreamplus Gangnam in Seocho-gu, Seoul, attended by about 40 representatives from group affiliates, including Noh Kyuseung, Head of ZER01NE at Hyundai Motor Group, and Kang Deokbeom, Head of the IB Division at Hyundai Motor Securities.
ZER01NE is a new open innovation platform launched by Hyundai Motor Group in 2018 with the goal of creating an ecosystem for creative talent.
The ZER01NE 3rd Fund has been established with a total size of 125 billion won. Hyundai Motor and Kia each contributed 40 billion won, and Hyundai Motor Securities invested 10 billion won, jointly taking on the role of co-general partner (co-GP) for planning and operation. Seven other group affiliates?Hyundai Mobis, Hyundai Glovis, Hyundai Wia, Hyundai Rotem, Hyundai AutoEver, Hyundai BNG Steel, and Hyundai Capital?also participated as investors by making individual contributions.
Through this fund, Hyundai Motor Group plans to identify future new businesses and technologies?such as artificial intelligence (AI), robotics, hydrogen, and cybersecurity?mainly in Asia, including Korea, Japan, and Southeast Asia, and to invest in promising early-stage startups in these fields. The group aims to discover various cases of strategic collaboration with these startups and to internalize future innovative technologies.
Previously, in 2018, Hyundai Motor Group established its first fund with a size of 10 billion won, followed by a second fund in 2021 totaling 80.5 billion won. These funds invested in 105 companies and created over 200 cases of group collaboration.
Noh Kyuseung stated, "By collaborating with startups in innovative technology fields such as AI, robotics, and energy, we will create synergy among affiliates and accelerate the expansion of our future businesses."
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