'Team Korea for autonomous mobility' Hyundai Motor, Kakao, KT teams up for the market worth 1,300 trillion won

Seoul [South Korea], October 14 (ANI/Global Economic): Korean major automobile and IT companies have teamed up to lead the global autonomous mobility market, which is expected to grow to $1.1204 trillion (about 1296 trillion won) in 2035.
The Korea Autonomous Industry Association held the 'Autonomous Driving Industrial Innovation Forum' at the Conrad Seoul Hotel in Yeouido and officially announced its launch. Hyundai Mobis, Kakao Mobility, KT, Mando Mobility Solutions, Socar, Control Works, ThorDrive, Korea Automotive Technology Institute (Katech), and Korea Automobile Testing and Research Institute (KATRI) will participate as directors. Hyundai Mobis president Cho Sung-hwan was inaugurated as the chairman of the association.
Various companies such as automobile, components, service, and e-mobility, can join the Korea Autonomous Industry Association regardless of industry. Initially, around 70 companies will participate.
At the forum, some 30 autonomous industry officials and experts, including Vice Minister of Industry Park Jin-kyu, Vice Minister of Land, Infrastructure and Transport Hwang Sung-kyu, chairman of the association Cho Sung-hwan, director of Katech Heo Nam-yong, chairman of the Korea Transportation Safety Authority Kwon Yong-bok, vice president of Hyundai Motor Kim Dong-wook, CEO of Mando Mobility Solutions Yoon Pal-ju, head of Kakao Mobility's Future Business Division Jang Sung Wook, and head of Socar's new rules division Kim Ji-young attended. (ANI/Global Economic)