The DLD will enable leaders from government, business, academia and civil society to discuss policies and industrialization plans for developing countries, particularly those in Africa, through interdisciplinary discussions, workshops and seminars. This establishment aims to build a collaborative foundation for politicians, scholars and business leaders to exchange their opinions and to forge a common understanding of the roles of various sectors for the social and economic advancement of developing regions, including Africa. Moreover, the organization plans to foster future leaders of developing countries by running leadership programs targeting potential champions in government and business. Professors Chang, Cramer and Di John will co-direct the DLD.

The CSST, which is scheduled to open in February 2024, will suggest strategies for socio-economic development based on sustainable structural transformation of developing countries, especially those in Africa, in an age of climate crisis. It will also present vision and specific roles for private sector firms, including Hyundai Motor Group, and for governments in developing countries in Africa and elsewhere. CSST will conduct research projects in four major topics: energy conversion, mineral resources, reorganization of the international supply chain, and construction of new infrastructure. Professors Chang and Andreoni will co-direct the CSST.

Through its collaboration with the DLD and CSST under SOAS University of London, the Group plans to improve its understanding of African markets and establish the foundation for developing its long-term business strategies in the continent. It will actively participate in research by dispatching Hyundai Motor and Kia employees for research activities, seminars and workshops. The Group also plans to actively suggest the private sector’s roles and responsibilities in industrializing Africa. Moreover, the Group will closely interact with relevant organizations within the region to maximize synergies. Through the collaboration, the Group aims to establish a win-win model, securing global growth momentum for itself while speeding up industrialization of African countries.

Hyundai Motor Group speeds up its win-win strategy with African countries

Through its collaboration with African countries, the Group seeks to find mutually beneficial partnership opportunities with African countries beyond securing market share.

For instance, the Group aims to find and implement industrial development opportunities, and to establish cooperative relations with countries in Africa by leveraging its technologies and products. Co-developing Africa’s natural resources and renewable energy would be a good example of mutually beneficial collaborative efforts.

This collaboration can potentially accelerate both Africa’s industrialization and the Group’s business development in the region.