Hyundai Motor Group Signs MOU with Singapore Jurong Town Corporation to Analyze Future Transportation Demand

Jiyoung Jo, President of Innovation at Hyundai Motor Group (right), and Tan Bunkai, CEO of Jurong Town Corporation, are taking a commemorative photo after signing a mutual cooperation Memorandum of Understanding (MOU).

[Asia Economy Reporter Kiho Sung] Hyundai Motor Group will conduct future transportation demand analysis in Singapore to demonstrate new mobility-related businesses. The group plans to accelerate securing new growth engines in Singapore, which is regarded as the best testbed for new technologies in Southeast Asia.

On the 26th, Hyundai Motor Group announced that it signed a "Business Agreement for Future Transportation Demand Analysis" with the Jurong Town Corporation of Singapore. The signing ceremony was attended by Ji Young-jo, President of Innovation at Hyundai Motor Group, Tan Bun-kai, CEO of Jurong Town Corporation, and other officials from both sides.

Jurong Town Corporation is a government-affiliated agency responsible for the planning, development, and management of Singapore's industrial and business parks and related facilities, recently aiming for innovation in various smart city fields such as mobility and logistics.

Through this business agreement, Hyundai Motor Group will carry out projects linked to smart cities in Singapore and plans to establish a foundation for demonstrating new businesses related to mobility and smart solutions. Jurong Town Corporation will provide Hyundai Motor Group with various data including traffic status, traffic volume, land use plans, geographic information systems, and population.

Based on this, Hyundai Motor Group will analyze future transportation demand in the Jurong Innovation District, Singapore's representative smart industrial park, and derive optimal mobility services such as electric vehicles and autonomous vehicles tailored to each area.

Ji Young-jo, President of Innovation at Hyundai Motor Group, said, "We expect this project to become the cornerstone of Singapore's smart city business," adding, "We hope it will serve as a model where the private sector and government policies develop together through transportation demand modeling and follow-up projects."

Tan Bun-kai, CEO of Jurong Town Corporation, said, "Jurong Town Corporation is always looking for solutions that can provide innovative insights into the master plan for Singapore's next-generation industrial parks and ecosystems," and added, "We hope to create Jurong Town Corporation's smart mobility model and guidelines through this project."

This content was produced with the assistance of AI translation services.