November 21, 2024

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From left: Lee Jae-yong, head of smart city development at Hyundai Motor Group’s Global Strategy Office, stands with Badr Hamoud Albadr, CEO of the Misk Foundation, and Deputy CEO Omar Najjar after signing a memorandum of understanding in Riyadh, Saudi Arabia, Monday. (Hyundai Motor Group)

Hyundai Motor Group has partnered with Saudi Arabia’s Misk Foundation to develop young local talent and explore collaboration in smart city development.

The two organizations signed a memorandum of understanding on Monday in the Saudi capital Riyadh, with the agreement formalized by Lee Jae-yong, head of smart city development at Hyundai’s Global Strategy Office, and Badr Hamoud Albadr, CEO of the Misk Foundation.

The Misk Foundation, established in 2011 by Saudi Crown Prince Mohammed bin Salman, is a nonprofit organization dedicated to developing young talent in Saudi Arabia.

This partnership focuses on two key initiatives.

First, Hyundai and Misk will co-develop leadership training programs for young Saudis, providing global internships and training opportunities at Hyundai and Kia. These programs will expose participants to cutting-edge mobility technologies and help them develop skills essential for future leadership in sectors like automotive innovation and smart city development.

Second, Hyundai and Misk will collaborate on opportunities related to the Mohammed Bin Salman Nonprofit City, a new urban development project in Riyadh.

Hyundai will also take part in the Misk Global Forum, the region’s largest youth-focused platform, which has attracted over 150,000 participants since its launch in 2016. The MGF brings together global leaders and Saudi youth to discuss topics such as sustainability and future urban development. Past speakers at the forum have included Saudi Arabian Minister of Energy Prince Abdulaziz bin Salman and Microsoft founder Bill Gates.

“We’re eager to work alongside the Misk Foundation, which is at the forefront of developing future leaders in Saudi Arabia. This partnership is a great opportunity for us to drive our smart city ambitions forward while inspiring young Saudis with Hyundai’s innovative approaches to the future of urban living,” said Lee.

By Moon Joon-hyun (mjh@heraldcorp.com)