KAMA hosts seminar for future mobility in Singapore

The Korea Automobile and Mobility Association, in cooperation with the Singapore Manufacturing Federation, has hosted a seminar titled Vision and Strategy for Future Mobility: Korea and Singapore.

Held at the St. Regis Hotel on 12 October 2023, the seminar saw participants including the Korea Automotive Technology Institute, Korea Association of Mobility Studies, Hyundai Motor Company, as well as the Singapore Economic Development Board (EDB) and Singapore Business Federation coming together to share their visions for eco-friendly mobility, as well as to explore the possibilities of future industries resulting from this future for both countries.

The seminar saw industry leaders from both South Korea and Singapore exchanging ideas on future mobility through presentations and panel discussions

In his opening address at the seminar, President Nam Hoon Kang of the Korea Automobile and Mobility Association emphasised the opportunities that the new mobility sector offers, including chances to pursue economic growth in fields including electric vehicle financing, battery recycling, as well as the development of hydrogen and autonomous vehicles.

He also stated that Korea has strengths in areas that the Singapore government is focusing on, such as future mobility and smart manufacturing innovation capabilities, making it the optimal partner for Singapore to accomplish its national strategic initiatives.

Singapore Manufacturing Federation President Lennon Tan also took the seminar as an opportunity to welcome the Hyundai Innovation Centre as its newest member, and to thank the centre for reigniting Singapore's automotive sector, even as the federation continues to explore the relevance of automotive production here.

The seminar also saw Mr. Herman Loh, Senior Vice President of the EDB, sharing about how South Korean mobility and automotive companies can access Southeast Asia's manufacturing and market opportunities from Singapore. This would be done through 'twinned' operations in Singapore and the South-East Asian region that taps on the synergies of both locations, as part of a holistic and integrated South-East Asian strategy.

Mr. Seung-sik Na of the Korea Automotive Technology Institute also presented on the status and policies of the Korean automotive industry during the seminar, pointing out how the sector accounts for 11.5% of Korea's manufacturing. The nation is also said to house more than 10,000 auto-related parts companies, accounting for 7.1% of the nation's total employment. He states that Korea is aiming to develop core future automotive technologies including those related to batteries and fuel cells, while expanding the supply of electric and hydrogen electric vehicles.

He states that active government support is needed to foster a future automotive sector, such as we have seen in the development of the Hyundai Innovation Centre here in Singapore, which is expected to contribute to the spread of eco-friendly vehicles here.