Hyundai Motor Group (HMG) said it had agreed to work with the UK’s University of Oxford to help explore its “long-term vision and strategic direction”.

The two organisations have agreed to establish the Oxford-Hyundai Motor Group Foresight Centre which would focus on strengthening HMG’s ability to “proactively shape the future and identify critical focus points to address future geopolitical shifts and risks in advance”.

HMG said the centre would 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.

It noted University of Oxford is renowned for its Oxford Scenario Planning Approach (OSPA) and could offer strong expertise in reshaping industry perspectives and conceiving long term corporate directions.

Professor Soumitra Dutta, Dean of Oxford University’s Said Business School, speaking at the launch event of the centre, said “This is an exciting and important partnership with the Hyundai Motor Group which will see our world leading research and academics shape the future of business through values-based research. HMG’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.”

Gyun Kim, head of HMG Business Intelligence Institute, said: “The automotive industry is undergoing a paradigm shift and significant changes in business environments, leading to unprecedented uncertainty. 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 organisations, known as ‘future literacy”.

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