Hyundai Motor Group sets up Future Research Centre at Oxford University 

Oxford-Hyundai Motor Group Foresight Centre to help Hyundai navigate geopolitical shifts and risks, define the direction of its long-term research, and foster influential networking opportunities. It will also engage with the Group’s open innovation network in the US, China, India, Germany, and Singapore.

Autocar Pro News Desk By Autocar Pro News Desk calendar 09 Jul 2024 Views icon1932 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
L-R: Kim Kyung-kyun, President of HMG Business Research Institute; Soumitra Dutta, Dean of Oxford University Business School, and Kim Heung-so, Vice President of the GSO Division.

L-R: Kim Kyung-kyun, President of HMG Business Research Institute; Soumitra Dutta, Dean of Oxford University Business School, and Kim Heung-so, Vice President of the GSO Division.

Hyundai Motor Group and the University of Oxford held an opening ceremony for the Oxford-Hyundai Motor Group Foresight Centre at Oxford’s historic Convocation House on July 8 to mark a new partnership between the two organizations.

Based at the Said Business School, the Foresight Centre is dedicated to exploring the Group’s long-term vision and strategic direction. It will strengthen the Group’s ability to proactively shape the future and identify critical focus points to address future geopolitical shifts and risks in advance. The Centre will conduct innovative research to advance progress for humanity and facilitate interdisciplinary conversations between government agencies, academia and industry experts to develop long-term insights into future societal trends.

The University of Oxford, renowned for its Oxford Scenario Planning Approach (OSPA), has strong expertise in reshaping industry perspectives and conceiving long-term corporate directions.

“This is an exciting and important partnership with the Hyundai Motor Group, that will see our world leading research and academics shape the future of business through values-based research. Hyundai Motor Group’s vision to pursue a better future for humanity very much aligns with our School’s values, and we look forward to a fruitful and mutually enriching collaboration,” said Professor Soumitra Dutta, Dean of Saïd Business School, at the opening ceremony.

Attendees from Hyundai Motor Group included Gyun Kim, Executive Vice President of HMG Business Intelligence Institute, and Heung-Soo Kim, Executive Vice President of Global Strategy Office. From the University of Oxford, attendees included Professor Soumitra Dutta, Dean of Saïd Business School, Professor Jonathan Reynolds, Deputy Dean of Saïd Business School, Professor Rafael Ramirez, Director of the Oxford Scenarios Programme, Professor Trudi Lang, Senior Fellow in Management Practice, and other school officials.

“The automotive industry is undergoing a paradigm shift and significant changes in business environments, leading to unprecedented uncertainty,” said Gyun Kim, Executive Vice President and Head of Hyundai Motor Group Business Intelligence Institute, speaking at the event. “In such times, it is crucial for companies to move away from an experience-based approach and adopt a long-term perspective to identify large-scale future trends. We expect that the Foresight Centre will play a significant role in cultivating a multifaceted and comprehensive perspective on the future within organizations, known as ‘future literacy’.”

Heung-Soo Kim, Executive Vice President and Head of Global Strategy Office at Hyundai Motor Group also added, “Hyundai Motor Group is committed to proactively shaping an ideal direction for future communities to build a better world for humanity. We will foster unique capabilities to lead the way as a first mover in the global market, embarking on this ambitious journey not only for the next generation but also those to come.”

Engaging with Hyundai Motor Group’s open innovation network
Specialized programs, such as the Oxford Scenarios Programme and Oxford Futures Forum, will be implemented to share these insights across the Group, ensuring strategic alignment and forward-thinking leadership.

Furthermore, the Foresight Centre will engage with the Group’s open innovation network across key locations, including the United States, China, India, Germany, and Singapore. This collaboration will contribute to the expansion of the Group’s ecosystems in realizing its envisioned future.

The Foresight Centre will be directed by Professor Rafael Ramirez, widely respected for his expertise in future scenario planning, and co-directed by Titular Associate Professor Trudi Lang, who also brings extensive knowledge and experience in strategic foresight.

Ramirez previously chaired the Global Agenda Council at the World Economic Forum and provided strategic future scenario planning counsel to industry leaders, such as Royal Dutch Shell. Trudi Lang has also held strategic foresight positions at prominent global organizations, such as the World Economic Forum and the OECD Secretariat.

 

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