Hyundai Motor and KT to Exchange Treasury Shares for Cooperation in Advanced Technologies.

Hyundai Motor and KT will exchange 7.7% of KT's treasury shares with 1.04% of Hyundai Motor's stake and 1.46% of Hyundai Mobis's.
In addition, the two companies will expand the area of long-term joint research and business partnership on advanced technologies.
The plan is to jointly develop 6G standards optimized for autonomous vehicles and preoccupy next-generation "super-gap" technologies.
The two companies are also developing advanced air mobility (AAM) based on satellites.
KT will establish control and communication networks essential for AAM operation in connection with its own communication satellite, while Hyundai Motor Group will play a role in developing aircraft and constructing vertical landing sites.
Since September 2020, a consortium has been formed to participate in the government-led Korean UAM project and cooperated with the goal of commercialization in 2025.
A KT official said, "This treasury stock exchange deal is aimed at strengthening business partnerships and supplementing collaborative execution in the mid- to long-term. We plan to form and operate a 'business cooperation committee' to revitalize future new projects and advanced research that require continuous cooperation from a mid- to long-term perspective."
Communication networks are important in the UAM field, which flies 300 to 600 meters above and transports people and supplies.
Self-driving cars can check nearby vehicles and objects with cameras and radars, but UAM has no choice but to rely on ground control.

This is a good move for both companies. Hyundai Motor Group is taking a leadership role in developing autonomous vehicles and standards for mobility, while KT will be able to contribute its expertise in communication networks and 6G. The two companies have complementary strengths and this partnership will help them to stay ahead of the competition in the race to develop new technologies.