April 29, 2024

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(Hyundai Motor Group)

Hyundai Motor Group and the School of Oriental and African Studies (SOAS) at the University of London, UK, have jointly inaugurated the “Centre for Sustainable Structural Transformation.”

The opening ceremony took place at the Khalili Lecture Theater, University of London, on Feb. 23 with follow-up announcements on the success of the event.

SOAS, a distinguished member of the University of London consortium, is renowned for its expertise in researching developing nations, with a primary focus on Asia and Africa.

The establishment of the CSST follows the prior inception, the previous year, of the Development Leadership Dialogue Institute by Hyundai Motor Group and SOAS.

Serving as a platform for industry experts and policymakers from both the public and private sectors, this initiative is dedicated to deliberating on industrialization strategies and policy frameworks for developing nations, especially in African regions.

The CSST now emerges as a dedicated research institution committed to examining structural modifications that nurture sustainable growth in Africa.

Led by professor Jang Ha-jun, a prominent academic at SOAS, the institute aims to explore critical areas essential to Africa's sustainable development, including enhancing supply chains, leveraging renewable energy resources, managing mineral assets, and enhancing infrastructure.

The institute's core objectives expand to include formulating socio-economic development blueprints based on sustainable structural transformations for developing nations. It endeavors to outline specific roles for private enterprises, such as Hyundai Motor Group, alongside government entities to advance sustainable development objectives.

In response to the unveiling of the institute, Park Seong-gyu, the managing director of HMG Management Research Institute, reportedly emphasized the collaborative nature required for sustainable growth, highlighting values of cooperation, solidarity, and coexistence as fundamental principles underlying their shared vision.

By Investor News (investor@heraldcorp.com)