Hyundai sees Africa as next global growth stage

Apr 29, 2026, 09:28 am

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Sung Kim (center), Head of Strategic Planning at Hyundai Motor Group, speaks with Ha-Joon Chang (left), Co-Director of CSST at SOAS University of London, and Antonio Andreoni (right), Co-Director of CSST, during the “SOAS CSST Research Results Briefing” held at Hyundai Motor Group’s headquarters in Yangjae, Seoul, on April 28. / Courtesy of Hyundai Motor Group

Sung Kim, President and Head of Strategic Planning at Hyundai Motor Group, identified Africa as a key stage for the company’s next phase of sustainable global growth.

The group announced on April 29 that it held a research results briefing on Africa at its headquarters in Seoul, in collaboration with the Centre for Sustainable Structural Transformation (CSST) under SOAS University of London.

Sung Kim emphasized that “Hyundai Motor Group sees the next stage of global sustainable growth in the Global South, particularly Africa,” adding that the research marks “a practical starting point for building long-term partnerships with the region.”

SOAS is a leading institution specializing in Asian and African studies. Its CSST initiative, led by renowned economist Ha-Joon Chang, focuses on long-term industrial policy and sustainable development strategies for Africa.

Hyundai Motor Group supported the establishment of CSST and contributed to research on key drivers of Africa’s sustainable growth, including supply chains, renewable energy, critical minerals, and infrastructure development.

The briefing, themed “Global Competitiveness and Business Growth Potential of Africa’s Mobility Industry,” brought together experts from SOAS, the University of Manchester, Seoul National University, Yonsei University, and officials from the South African government and public institutions.

Participants discussed major issues shaping Africa’s industrial transformation, including green hydrogen, energy transition, global supply chain restructuring, industrial policy, and development finance.

Professor Ha-Joon Chang noted that “the core of sustainable structural transformation lies in aligning government policies and corporate strategies with social and environmental goals.”

He added that Africa’s transformation will require shared responsibility and cooperation among governments, businesses, public institutions, and local communities under a common vision.

Hyundai Motor Group stated that the event provided a meaningful platform for sharing insights between industry and academia on Africa’s evolving industrial landscape.

The company plans to leverage its deeper understanding of the region to explore new business opportunities and expand operations across sectors such as mobility, energy, resources, and construction.

As global supply chains shift and emerging markets gain prominence, Africa is increasingly positioned as a strategic frontier for long-term growth.

#Hyundai Motor Group #Sung Kim #Africa #SOAS #CSST