Hyundai Motor Group and Oxford University launch innovative Foresight Centre

Hyundai Motor Group and the University of Oxford have joined forces to create the Oxford-Hyundai Motor Group Foresight Centre. The initiative, officially launched on July 8 at Oxford's historic Convocation House, marks a significant step towards proactive future planning in the rapidly evolving automotive and mobility sectors.

Based at Oxford's renowned Saïd Business School, the Foresight Centre is set to become a hub for innovative research and strategic thinking. Its primary goal is to support Hyundai Motor Group in exploring and shaping its long-term vision and strategic direction. In an era of unprecedented technological advancement and geopolitical shifts, the Centre will play a crucial role in identifying critical focus points and addressing future risks and opportunities.

The partnership leverages the University of Oxford's expertise in scenario planning, particularly its acclaimed Oxford Scenario Planning Approach (OSPA). This methodology has proven effective in reshaping industry perspectives and conceiving long-term corporate strategies. By combining this academic prowess with Hyundai's industry leadership, the Foresight Centre aims to facilitate interdisciplinary conversations between government agencies, academia, and industry experts to develop comprehensive insights into future societal trends.

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Professor Soumitra Dutta, Dean of Saïd Business School, expressed enthusiasm about the partnership, highlighting the alignment between Hyundai Motor Group's vision and the School's values. He emphasised the potential for world-leading research and academics to shape the future of business through values-based research.

Gyun Kim, Executive Vice President of HMG Business Intelligence Institute, underscored the importance of the Centre in navigating the current paradigm shift in the automotive industry. He noted that in times of unprecedented uncertainty, it's crucial for companies to move beyond experience-based approaches and adopt a long-term perspective to identify large-scale future trends.

Heung-Soo Kim, Executive Vice President and Head of Global Strategy Office at Hyundai Motor Group, reinforced the company's commitment to proactively shaping an ideal direction for future communities. He emphasised Hyundai's ambition to lead as a first mover in the global market, focusing not just on the next generation but on those to come.

The Foresight Centre will implement specialised programs, including the Oxford Scenarios Programme and Oxford Futures Forum, to disseminate insights across the Hyundai Motor Group. This approach aims to ensure strategic alignment and foster forward-thinking leadership throughout the organisation.

Moreover, the Centre will engage with Hyundai's open innovation network across key global locations, including the United States, China, India, Germany, and Singapore. This collaborative effort is expected to contribute significantly to the expansion of the Group's ecosystems in realising its envisioned future.

Leading the Foresight Centre are two distinguished experts in the field of strategic foresight. Professor Rafael Ramirez, known for his expertise in future scenario planning, will serve as the Centre's director. His experience includes chairing the Global Agenda Council at the World Economic Forum and advising industry leaders like Royal Dutch Shell. Co-directing the Centre is Titular Associate Professor Trudi Lang, who brings extensive knowledge from her strategic foresight roles at global organisations such as the World Economic Forum and the OECD Secretariat.