Hyundai Motor is expected to invest KRW 23 trillion in smart cars and artificial intelligence (AI) for the next five years and employ 45,000 people. It is a strategy to lead future mobility innovation in line with the trends of the fourth industrial revolution such as super-aged, super-aged, technology convergence, and shared society.

Hyundai Motor revealed its investment plan on January 17 with a meeting with the Minister of Economy, Finance and Finance Kim Dong-yeon.

First of all, Hyundai decided to fix five new businesses including △ automobile electric motor, △ smart car △ robot, artificial intelligence (AI) △ future energy △ start-up business, They will invest 23 trillion won and create 45,000 jobs to promote these five new businesses.

Especially, Hyundai Motor plans to introduce a robot and AI in the future.

Besides, Hyundai Motor will strengthen efforts to win-win partnerships with its partner companies, and help the third and fourth partner companies minimize the difficulty of raising the minimum wage. We will also set up a "virtuous circle mutual growth" strategy that builds R & D bases and strengthens quality competencies with suppliers. In addition, we plan to expand strategic investments and establish joint ventures to foster startups with superior technology.

At the meeting, Vice-premier Mr. Kim and Vice Chairman of Hyundai Motors also discussed ways to foster eco-friendly cars such as electric cars and hydrogen cars. In particular, he voiced concern over the government`s early depletion of eco - friendly car subsidies this year, and Kim promised to give additional support even if he devotes another budget once the subsidy budget of 255 billion won is over.

The proposal for the installation of a high-speed charging system of more than 300 kilowatts (kW) and the request for the early construction of a hydrogen car filling facility were submitted by Kim. The high-speed charging system will be supplied in a timely manner in accordance with technological development, and Korea Highway Corporation will expand the hydrogen car filling facility by 60 by 2022. First of all, I will make 8 places on the main highway this year.

Regarding the increase in industrial electricity rates, Kim explained that he would make a rational plan in the process of policy formulation so that the burden of the corporation does not increase sharply.

Meanwhile, Mr. Kim said, "Venture, small and medium-sized enterprises, as well as large companies, are also the axis of innovation growth." He said, "We will not regret the regulations in the new business fields and support the necessary ones." In the meantime, Kim expressed his gratitude to Hyundai for "thanks to the fact that Hyundai has invested in new business and has played a key role in creating jobs." Regarding this, Chung also answered, "We will invest in new technology fields and attract more people, so that we can become a virtuous circle with more jobs."

He visited the second largest conglomerate after meeting with LG Group officials in Seoul last December. Deputy Prime Minister Choi Joo-kyu, Deputy Minister of Small and Medium-sized Venture Business, Shin Young-sun, Vice Chairman of Fair Trade Commission, Chung Vice Chairman, Yang Woong-cheol, Vice Chairman of Hyundai Motor,


By Kwon Dae Gyung kwon213@


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