Hyundai Motor Group will pursue cooperation on low-carbon technologies centered on hydrogen with the Singapore Economic Development Board (EDB).
Hyundai Motor Group said on the 3rd that on the 31st, at the "K-Tech Showcase" venue inside Gyeongju Expo Grand Park in North Gyeongsang, where the "2025 APEC Summit" was held, it signed a memorandum of understanding (MOU) with the Singapore Economic Development Board to explore opportunities to develop low-carbon technologies centered on hydrogen.
The Singapore Economic Development Board is an agency under the Ministry of Trade and Industry of Singapore. It oversees investment promotion and industrial development in manufacturing and trade, and leads strategies to strengthen Singapore's global position as a hub for business, innovation, and talent development. The EDB's jurisdictional businesses account for more than one-third of Singapore's annual gross domestic product (GDP).
With this agreement, Hyundai Motor Group plans to begin in earnest the groundwork to build a hydrogen ecosystem in Singapore, including power generation using hydrogen energy and long-distance hydrogen transport. As Singapore and Johor, Malaysia, have established a free trade zone, it also expects to realize a Southeast Asian hydrogen infrastructure system linked with neighboring Malaysia.
It will also work with local mobility partners in Singapore to strengthen brand value and highlight innovation in hydrogen technology. By operating hydrogen-based vehicles, it plans to naturally spread public awareness of a sustainable hydrogen ecosystem.
Park Jae-ha, senior vice president of Hyundai Motor Group's Global Hydrogen Business Division, said, "Governmental institutional support is very important in laying the foundation for the hydrogen industry," and added, "We expect that cooperation with the Singapore Economic Development Board will provide policy direction and an execution base for building a hydrogen ecosystem."