Hyundai Motor Group and Oxford University Launch Foresight Centre to Shape Future Trends
LONDON/SEOUL, July 9, 2024 – Hyundai Motor Group (the Group) and the University of Oxford celebrated the inauguration of the Oxford-Hyundai Motor Group Foresight Centre at Oxford’s historic Convocation House on July 8. This new partnership marks a significant step towards understanding and shaping the future of various industries.
Situated within Saïd Business School, the Foresight Centre will play a crucial role in guiding Hyundai’s long-term vision and strategic direction. It will enhance the Group’s capacity to anticipate and respond to future geopolitical changes and risks. By conducting cutting-edge research and fostering interdisciplinary dialogue among government, academia, and industry, the Centre aims to generate profound insights into emerging societal trends.
Renowned for its Oxford Scenario Planning Approach (OSPA), the University of Oxford brings extensive expertise in redefining industry perspectives and formulating long-term corporate strategies.
“This partnership with Hyundai Motor Group allows our leading research and academics to influence the future of business through values-based research,” said Professor Soumitra Dutta, Dean of Saïd Business School, during the opening ceremony. “Hyundai’s vision for a better future aligns perfectly with our School’s values, promising a fruitful and enriching collaboration.”
The opening event saw attendance from prominent Hyundai executives, including Gyun Kim, Executive Vice President of HMG Business Intelligence Institute, and Heung-Soo Kim, Executive Vice President of Global Strategy Office. Key representatives from Oxford included Professor Soumitra Dutta, Professor Jonathan Reynolds, Deputy Dean, Professor Rafael Ramirez, Director of the Oxford Scenarios Programme, and Professor Trudi Lang, Senior Fellow in Management Practice.
“The automotive industry is experiencing a paradigm shift with significant changes in business environments, leading to unprecedented uncertainty,” noted Gyun Kim, Executive Vice President and Head of Hyundai Motor Group Business Intelligence Institute. “In these times, it’s crucial for companies to adopt a long-term perspective to identify major future trends. We believe the Foresight Centre will be instrumental in developing a comprehensive understanding of the future.”
Heung-Soo Kim, Executive Vice President and Head of Global Strategy Office at Hyundai Motor Group, added, “Hyundai Motor Group is dedicated to proactively shaping an ideal future for communities worldwide. By fostering unique capabilities, we aim to lead the global market as a pioneer, building a better world for future generations.”
Specialized programs such as the Oxford Scenarios Programme and Oxford Futures Forum will disseminate these insights across the Group, ensuring strategic coherence and visionary leadership.
The Foresight Centre will also collaborate with Hyundai’s open innovation network in key regions, including the United States, China, India, Germany, and Singapore. This global engagement will help expand Hyundai’s ecosystems, enabling the realization of its envisioned future.
The Centre will be led by Professor Rafael Ramirez, a distinguished expert in future scenario planning, and co-directed by Titular Associate Professor Trudi Lang, who brings extensive experience in strategic foresight.
Professor Ramirez has previously chaired the Global Agenda Council at the World Economic Forum and advised industry leaders like Royal Dutch Shell on strategic future scenario planning. Professor Lang has held strategic foresight positions at global organizations such as the World Economic Forum and the OECD Secretariat.
Through this collaboration, Hyundai Motor Group will establish a robust foundation for actively designing and achieving its future goals amidst a rapidly evolving global landscape. This partnership is expected to cement Hyundai’s leadership in the future mobility industry, transcending short-term forecasts to shape a sustainable and innovative future.
