Hyundai Motor, Kia to work on Saudi smart city project

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Hyundai Motor, Kia to work on Saudi smart city project

Published: 01 Oct. 2024, 17:01

SARAH CHEA
chea.sarah@joongang.co.kr

From left, Lee Jae-yong, head of the smart city innovation business at Hyundai Motor and Kia, Badr Hamoud Albadr, CEO of the Misk Foundation, and Omar Al-Najjar, Deputy CEO of Misk Foundation, take a photo after signing an agreement in Riyadh on Monday. [HYUNDAI MOTOR]

Hyundai Motor and Kia teamed up with Saudi Arabia's Misk Foundation, known as the Mohammed bin Salman Foundation, to foster young talents and explore business cooperation in a smart city project under construction in Riyadh.

The Korean automakers said Tuesday that they had signed a memorandum of understanding with the foundation to offer global internship chances and training programs for youth in Saudi Arabia. Misk is a nonprofit foundation, established in 2011 by Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud, that is dedicated to youth.

The Korean automakers will participate in the upcoming Misk Global Forum, Saudi Arabia’s largest youth-focused event, to share their insights into the future of mobility and sustainable solutions. More than 150,000 people have participated in the event, including Microsoft founder Bill Gates.

Hyundai also said it will have talks with Misk to engage in a smart city project, the Mohammed Bin Salman Nonprofit City project, which is currently under construction in Riyadh.

“We’re thrilled to partner with Misk Foundation, a hub of innovation and entrepreneurship for Saudi future leaders,” said Lee Jae-yong, head of the smart city innovation business at Hyundai Motor and Kia. “We aim to create synergies to empower the next generation of leaders. This collaborative effort will not only contribute to the development of the Saudi knowledge-based economy, but also pave the way for a more sustainable and connected future.”

BY SARAH CHEA [chea.sarah@joongang.co.kr]