South Korea Prime Minister Kim Boo-kyum (fifth from left), Hyundai Motor Group Chairman Chung Euisun (fourth from right) and other participants pose for a group photo during a partnership event in Goyang, on Nov. 22, 2021. [Photo by Lee Chung-woo]
South Korea’s Hyundai Motor Group has pledged to create 46,000 direct and indirect jobs – especially in new mobility technologies robotics, urban air mobility, and autonomous driving sectors – at home over the next three years, the biggest job creation scheme by the country’s major conglomerates so far.
On Monday, the country`s automotive mogul signed a partnership agreement with the Prime Minister`s Office for the government`s youth job and education support program dubbed "Youth Hope ON". The signing ceremony held at Hyundai Motor Studio in Goyang, northwest of Seoul, was attended by Prime Minister Kim Boo-kyum and Hyundai Motor Group Chairman Chung Euisun.
Under the agreement, Hyundai Motor Group will directly hire 30,000 people over the next three years – 10,000 every year – and jointly invest with the government in internship and support programs to groom 16,000 mobility technology experts over the cited period.
Hyundai Motor Group’s commitment to youth job creation at home under the government’s program is the biggest offer among the country’s six major conglomerates that have signed on the program. LG ha vowed to create 39,000 jobs, followed by Samsung (30,000), SK (27,000), Posco (25,000) and KT (12,000).
With Hyundai Motor’s latest partnership, the six major conglomerates have so far pledged to create a total of 179,000 new youth jobs in Korea over the next three years, according to the Prime Minister`s Office.
[Photo by Lee Chung-woo]
Most of Hyundai Motor Group’s new jobs for the youth will be created in future mobility sectors mainly developing robotics, UAM, hydrogen and autonomous driving technologies. Under the talent grooming scheme, it will recruit 3,400 young people to its internship programs, nurture 5,600 experts through industry-university collaborative programs and set aside another 6,000 jobs for bachelor and master’s degree engineering students. It will also sponsor some 1,000 jobs in the startup and philanthropic sectors through its startup investment program, Zero One, and Chung Mong-koo Foundation.
The government will provide financing for education programs and support Hyundai Motor Group`s recruitment program for young talents.
Regarding Hyundai Motor Group’s plan to produce electric cars in the United States, Chung said everything goes as planned along with the potential supply of batteries and semiconductors as demand for electric vehicles is expected to continue to increase until 2040. But he denied rumors that the company would start EV production in the U.S. immediately next year.
Chung added that Hyundai Motor Group would jointly research and develop EV battery cells with partnering companies but will rely on outside vendors for battery production.
By Lee Ji-yong, Lee Sae-ha and Minu Kim
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