Hyundai Motor Group will invest about 8 trillion won to build research and development (R&D) facilities for future businesses such as artificial intelligence (AI) and software (SW) near Bokjeong Station in Songpa District, Seoul. Because it is a key transportation hub, it will be easier to attract talent, and it is close to the Global Business Complex (GBC) being built in Samseong-dong, Gangnam District, Seoul, raising expectations for synergy from collaboration between organizations.
Hyundai Motor Group's major affiliates Hyundai Motor, Kia, Hyundai Mobis, Hyundai Steel and Hyundai Rotem said on the 24th that they decided to make capital contributions to establish a new real estate leasing corporation tentatively named HMG Future Complex.
The total investment by these affiliates is 7.328 trillion won (equity 91.6%). Hyundai Motor's investment is the largest at 2.8885 trillion won, followed by Kia at 2.3634 trillion won, Hyundai Mobis at 1.0988 trillion won, Hyundai Steel at 516.4 billion won, and Hyundai Rotem at 460.8 billion won. Hyundai Motor Group said, "This investment is to secure an integrated research and business base to lead future businesses."
Equity in HMG Future Complex will be held by Hyundai Motor (36.1%), Kia (29.5%), Hyundai Mobis (13.7%), Hyundai Steel (6.5%) and Hyundai Rotem (5.8%). Discussions are underway over which affiliate will acquire the remaining 8.4% equity. Hyundai Motor Group expects the total investment to reach 8 trillion won when including equity from affiliates to be invested later.
Hyundai Motor Group plans to use the secured investment to build new research facilities near Bokjeong Station in Songpa District, Seoul. The site will serve as a research hub focused on artificial intelligence (AI) and software (SW). Construction will start in the first half of this year, with completion slated for the end of 2030.
Bokjeong Station is a key hub in the southeastern Seoul metropolitan area connecting Songpa District in Seoul and Seongnam in Gyeonggi Province. As a transportation hub where Subway Line 8 and the Suin-Bundang Line intersect, it is advantageous for attracting talent. It is also not far from Hyundai Motor Group's GBC to be built in Samseong-dong, Gangnam District, which can enhance connectivity among group organizations.
A Hyundai Motor official said, "The Bokjeong Station office facility has excellent transportation and is a prime location favorable for securing talent," adding, "Positive effects are expected, including responding to demand for AI and SW personnel, strengthening research and development (R&D) capabilities, collaboration synergy, efficiency in hub operations, expense optimization, and job creation through revitalizing the construction economy."
Hyundai Motor Group plans to reassign AI- and SW-related personnel among those currently working at the Namyang R&D Center to the Bokjeong Station office facility.