KT and Hyundai Motor Group join hands to lead the future mobility market.

KT and Hyundai Motor Group announced on the 7th that they will expand their strategic partnership to advance vehicle technology in the field of 'Connectivity', a core element of MECA (Mobility service, Electrification, Connectivity, Autonomous).

KT and Hyundai Motor Group are working to establish satellite-based Advanced Air Mobility (AAM) communications infrastructure.

KT and Hyundai Motor Group formed a consortium in September 2020 to participate in the government-led Korean UAM (Urban Air Mobility) project and have been working together with the goal of commercialization in 2025.

KT will build the control and communication networks essential for AAM operation in conjunction with its own communications satellite, while Hyundai Motor Group will be responsible for developing the aircraft and constructing the vertiport (vertical takeoff and landing pad).

In addition, KT and Hyundai Motor Group will jointly develop a 6G communication standard optimized for autonomous vehicles, expand the scope of their business partnership to expand EV charging infrastructure by utilizing KT's idle space and network nationwide, and develop new services.For content procurement, analysis of various big data, and linkage with vehicle and mobile data.

△We are reviewing the operation of a future technology fund to foster cooperation in ICT technology development. △We are also planning technological collaboration in the area of secure communication modules, which are essential for future business expansion. △We are also conducting a pilot operation of an autonomous shuttle, centered around KT's new futuristic building.

KT and Hyundai Motor Group, which jointly serve on the boards of directors of the Korea Autonomous Driving Industry Association, held a board meeting on the 7th and approved a future equity swap with Hyundai Motor Group. KT and Hyundai Motor Group will acquire mutual equity through a swap of approximately KRW 750 billion (7.7%) of KT's treasury stock for approximately KRW 445.6 billion (1.04%) of Hyundai Motor Company's treasury stock and approximately KRW 300.3 billion (1.46%) of Hyundai Mobis' treasury stock.

By becoming mutual shareholders, both KT and Hyundai Motor Group announced that the purpose of their equity investment was simple investment, with the aim of solidifying their mid- to long-term business alliance partnership and complementing their collaborative execution capabilities.

A Hyundai Motor Group official said, “Through the organic combination of the capabilities of both groups, we expect to enhance our competitiveness in future mobility, while also innovating customer experiences across the entire lifecycle of future EV connected cars.”

A KT official said, “We have decided to pursue comprehensive cooperation with Hyundai Motor Group to expand DIGICO’s business areas,” and “Through this cooperation, we will lead the future mobility market together with Hyundai Motor Group and leap forward as a global tech company by entering the global market.”