Seoul: Hyundai Motor Group announced the creation of its third startup investment fund, designed to support venture companies that focus on innovative technologies and ideas. This new fund, part of the group’s ZER01NE accelerator program, amounts to 125 billion won (US$91.4 million) and features financial contributions from various group affiliates.

According to Yonhap News Agency, Hyundai Motor Co. and Kia Corp. each invested 40 billion won, while Hyundai Motor Securities Co. added 10 billion won to the fund. Additional investments were made by seven other units, including Hyundai Mobis Co., Hyundai Glovis Co., and Hyundai Rotem Co. The fund will target promising startups in South Korea, Japan, and Southeast Asia, with a focus on artificial intelligence, robotics, hydrogen, and cybersecurity sectors.

The group aims to explore strategic collaboration opportunities between the selected startups and its affiliates, emphasizing the internalization of next-generation innovations. Since the ZER01NE platform’s inception in 2018, Hyundai Motor Group has established two prior funds, supporting 105 startups and facilitating over 200 collaboration cases within the group.

Noh Kyu-seung, head of the ZER01NE division at Hyundai Motor Group, stated, “By deepening collaboration with innovative startups, we aim to generate meaningful synergies across our affiliates and accelerate our future-ready business initiatives.”