Hyundai Motor Group Partners with SOAS University of London to Nurture African Talent through New Scholarship Agreement

Rhea-AI Summary

Hyundai Motor Group (HYMTF) has partnered with SOAS University of London to establish a new scholarship program focused on nurturing African talent. The initiative includes a £1.5M donation to support 25 master's and doctoral students from Africa studying at SOAS.

The collaboration features the establishment of two key institutions: the Development Leadership Dialogue (DLD) Institute for development community discussions, and the Centre for Sustainable Structural Transformation (CSST) focusing on structural transformation amid climate challenges.

Starting in the first half of 2025, five annual scholarships will be awarded to African students, covering tuition and living expenses. Recipients will participate in networking events and seminars hosted by Hyundai Motor Group. Additionally, the company is introducing a Junior Internship Program offering global business experience to SOAS African students in Seoul.

Positive

• £1.5M investment in educational initiatives strengthening presence in African market
• Strategic establishment of research centers (DLD and CSST) enhancing market intelligence in Africa
• Creation of talent pipeline through internship program potentially benefiting future operations

Negative

• None.

• Hyundai Motor Group (the Group) partners with SOAS to foster a fundamental understanding of the continent and promoting sustainable development in Africa
• With the establishment of the 'Hyundai Motor Group Scholarship,' both parties have broadened their collaborative efforts to nurture future generations in Africa
• This year, 25 master's and doctoral students from Africa will receive a scholarship to study at SOAS due to a £1.5M donation from Group partners
• Scholarship recipients to participate in events and seminars hosted by the Group, focusing on sustainable development in Africa and global collaborations
• The Group's new Junior Internship Program to offer global business experience to SOAS students from Africa to work in Seoul

LONDON and SEOUL, South Korea, Feb. 11, 2025 /PRNewswire/ -- Hyundai Motor Group (the Group) has signed a scholarship agreement to nurture talent from Africa at SOAS University of London, a university that is home to leading international experts engaged in research and teaching to create meaningful change and empower students to find solutions to global challenges.

As a first step, in partnership with SOAS, the Group has established the Development Leadership Dialogue (DLD) Institute, a forum for discussions among leaders in the development community, as well as the Centre for Sustainable Structural Transformation (CSST), a research center focused on structural transformation in the context of the climate crisis.

Starting in the first half of 2025, the Hyundai Motor Group Scholarship will be offered annually to five master's and doctoral students coming to SOAS from Africa. Scholars will receive transformational support towards their tuition and living expenses. The Group will invite scholarship recipients to participate in various networking events and seminars hosted by the Group after completing their studies. This collaboration model between the Group and the scholars is designed to support this next generation of changemakers beyond their studies.

"Hyundai Motor Group has established the DLD and CSST in collaboration with SOAS to gain a fundamental understanding of Africa and is seeking a collaboration model for a desirable future on the continent," said Heung-Soo Kim, Executive Vice President and head of the Global Strategy Office (GSO) at Hyundai Motor Group. "As part of our commitment to fostering the next generation of leaders who will drive sustainable development in Africa, Hyundai Motor Group is establishing a scholarship program to nurture the future generations of the continent."

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SOURCE Hyundai Motor Group

FAQ

How much is Hyundai Motor Group (HYMTF) investing in the SOAS scholarship program?

Hyundai Motor Group is investing £1.5M in the scholarship program at SOAS University of London.

When will HYMTF's scholarship program at SOAS begin?

The Hyundai Motor Group Scholarship program will begin in the first half of 2025.

How many African students will receive HYMTF scholarships at SOAS annually?

Five master's and doctoral students from Africa will receive scholarships annually.

What research centers has HYMTF established with SOAS University?

Hyundai Motor Group has established the Development Leadership Dialogue (DLD) Institute and the Centre for Sustainable Structural Transformation (CSST) with SOAS.

What additional benefits do HYMTF scholarship recipients get besides funding?

Recipients will receive tuition and living expenses support, participate in networking events and seminars hosted by Hyundai Motor Group, and have access to the Junior Internship Program in Seoul.