This photo provided by Hyundai Motor Group, shows Park Jae-ha (L), head of global hydrogen business sub-division at Hyundai Motor, and Zheng Jingxin, vice president and head of the mobility division at Singapore's EDB, at a memorandum of understanding signing ceremony held Friday, in Gyeongju, southeastern South Korea, on the sidelines of the Asia-Pacific Economic Cooperation summit. (Yonhap)
This photo provided by Hyundai Motor Group, shows Park Jae-ha (L), head of global hydrogen business sub-division at Hyundai Motor, and Zheng Jingxin, vice president and head of the mobility division at Singapore's EDB, at a memorandum of understanding signing ceremony held Friday, in Gyeongju, southeastern South Korea, on the sidelines of the Asia-Pacific Economic Cooperation summit. (Yonhap)

Hyundai Motor Group said Monday it has partnered with Singapore's Economic Development Board to explore opportunities for developing low-carbon technologies, including hydrogen energy solutions.

Under the partnership, Hyundai Motor and the EDB will identify and pursue potential projects involving low-carbon technology development with Singapore-based companies and startups, including the possible use of the country's pipeline network for hydrogen distribution.

A memorandum of understanding for the partnership was signed Friday on the sidelines of the Asia-Pacific Economic Cooperation summit held in South Korea's southeastern city of Gyeongju.

The EDB, which operates under Singapore's Ministry of Trade and Industry, plays a key role in promoting investment, industrial development and innovation.

Hyundai Motor said the initiative aims to address logistical challenges and improve resource efficiency as part of Singapore's Green Plan 2030 initiative.

The South Korean automotive group currently operates the Hyundai Motor Group Innovation Center Singapore, which is the group's first global open innovation hub and test bed.

"By bringing our cutting-edge expertise in hydrogen technology, this partnership represents a significant step forward in creating a clean energy future for Singapore," said Park Jae-ha, head of global hydrogen business sub-division at Hyundai Motor.

Zheng Jingxin, vice president and head of the mobility division at the EDB, said this partnership is closely aligned to Singapore's commitment to develop a low-carbon economy. "This will strengthen Singapore's position as a global innovation hub within Hyundai Motor Group's global network." (Yonhap)