South Korea’s Hyundai Motor Group has teamed up with leading science technology universities in Israel and Korea to conduct research on future technologies such as autonomous driving and artificial intelligence.

The Korean auto conglomerate said Wednesday it signed a memorandum of understanding with Technion Israel Institute of Technology and Korea Advanced Institute of Science and Technology (KAIST) to carry out joint research on future mobility technologies.

Established in 1912, Technion is the oldest university in Israel with an emphasis on science and engineering. More than 60 percent of graduates launch or join a startup, playing a critical role in spurring the country’s entrepreneurship. Figures show that Technion graduates have founded more than half of all startups in Israel, with a majority of them filling the executive seats at the country’s major companies.

Under the agreement, the three parties will conduct research on future mobility technologies at the Technion campus. They will initially focus on areas such as self-driving system, cyber security and AI and gradually broaden their research to other sectors. They may also collaborate with startup firms that have expertise in the respective areas.

“Israel does not manufacture cars but it is home to many startups that provide essential parts or solutions underlying autonomous, connected cars,” said an official at Hyundai Motor. “This consortium will help us secure new growth engines and future technologies to lead the new era of the fourth industrial revolution.”

By Woo Je-yoon

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