South Korea’s largest carmaker Hyundai Motor Group and leading internet portal service provider Naver presented their company visions during President Moon Jae-in’s announcement of the “Korean New Deal,” which pledged to pioneer future technologies and industries in the post-COVID 19 era.
During a teleconference broadcast at South Korea’s Blue house Cheong Wa Dae, Hyundai Motor Group Vice Chairman Chung Euisun, and Naver CEO Han Seong-sook expressed support for the government’s five-year program.
Moon said that the two industry giants would play vital roles in the government’s new policy drive that centers around two key pillars: the “Digital New Deal,” and the “Green New Deal.” Chung and Han introduced their new and current technologies in the eco-friendly mobility business and the digital economy. The two leaders pledged to contribute to the nation’s economic revitalization efforts.
During his televised presentation, Chung presented their business strategies to align with the Green New Deal program. He said that Hyundai aims to increase Hyundai’s EV global market share by 10 percent in 2025 by introducing 23 EVs and growing sales to 1 million units.
The HMG Vice-Chairman recently met with vice-chairman Lee Jae-yong of Samsung Electronics, chairman Koo Kwang-mo of LG Group, and Chairman Chey Tae-won of SK Group. The move was seen as an effort to expand the carmaker’s EV business and partner with EV battery makers.
Meanwhile, CEO Han outlined Naver’s vision in a presentation from the company’s GAK data center in Chuncheon, Gangwon. Under the Digital New deal, Naver would take the lead role in supporting the government.
Naver would collaborate with the government and partner with small business owners to foster and expand new big data-based businesses with AI technology and cloud computing.
Korean New Deal
At the start of the event, President Moon Jae-in presented the government’s five-year “New Deal” plan, which aims to make Korea the world’s leading digital country centering around two concepts: the “Digital New Deal,” and the “Green New Deal.”
President Moon pledged to invest 160 trillion won ($133 billion) by 2025 to create 1.9 million jobs.
The Green New Deal aims to curb carbon emissions to create a carbon-neutral industry. The policy would foster eco-friendly mobility businesses such as hydrogen fuel-cell electric vehicles (FCEVs). Under the plan, the government would also improve South Korea’s EV charging infrastructure.
Meanwhile, the Digital New Deal aims to establish “data dams” to reinforce the country’s data, network, and artificial intelligence ecosystem.