Hyundai Motor Group will expand its strategic partnership with KT Corporation, a Korean telecommunications company, as it aims to become a leader in the future mobility market. The partnership will largely focus on enabling deep cooperation in next-generation communication infrastructure and ICT, including a joint research project with KT on 6G autonomous driving technology.

This research will be supported by Hyundai and KT diversifying their business partnership areas in 5G communication network-based, customized connected car services, and a security communication module collaboration. The two parties will also focus on advancing connected vehicle technologies, the basis for MECA (Mobility Service, Electrification, Connectivity, Autonomous).

In order to aid the development of their partnership, Hyundai Motor Group and KT agreed to acquire mutual shares by exchanging treasury stocks between Hyundai Motor (1.0%), Hyundai Mobis (1.5%), and KT (7.7%). This exchange is expected to solidify their partnership in the mid- to long-term, becoming shareholders of one other and supplementing cooperative execution. Likewise, the companies expect their respective acquisitions to create synergy in future businesses while enhancing the execution and sustainability of their collaboration.

At the first stage of the partnership, Hyundai will cooperate with KT to secure future autonomous driving technologies in anticipation of autonomous vehicles becoming more accessible. Here, the Group plans to jointly develop 6G communication standards optimized for self-driving cars to preoccupy next-generation ultra-gap technologies. With KT, it plans to develop a communication-based autonomous driving technology based on 6G that can process large amounts of data at a faster pace through demonstration projects and advanced joint research works. This heightened processing capability as well as its ability to quickly collect real-time information are expected to be key in this area of the partnership.

In addition to long-term joint research, the company will develop Hyundai’s business partnership area based on its core capabilities. The partnership will, for example, expand its EV charging infrastructure by utilizing KT’s Korean business sites and networks. The companies will also consider developing new services in line with the demand generated by new connected cars. Here, KT will provide optimized customer experiences through supplying premium entertainment content, analyzing various forms of big data, and linking vehicles with mobile data. Together, they will similarly explore new business opportunities around data and software, reviewing the operation of future technology funds for development in areas such as big data, and in the field of security and communication modules. They will also conduct demonstrations of self-driving shuttles at KT’s future facilities.

The OEM also plans to cooperate in various ESG fields, expanding the phased use of hydrogen fuel cells in KT’s business areas, electrifying KT’s corporate vehicle fleet, and jointly responding to RE100. With KT, Hyundai also plans to form and operate a Business Cooperation Committee that will promote future projects and advanced research that require continuous cooperation alongside the exchange of core capabilities in the mid- to long-term.