+ A

Renault signs partnership with Korean start-up group

Oct 03,2017
Renault has partnered with a Korean association to work with start-ups on advanced technology for the development of next-generation vehicles, the automaker’s local unit said Monday.

Before setting up an “open innovation office” in Korea next month, the French carmaker signed a memorandum of understanding with the K-ICT Born2Global Centre, an organization set up under the Ministry of Science and ICT to foster start-ups, Renault Samsung said in a statement.

“Korea, with a high automotive sales rate compared to population and advanced information technologies and environments, is the ideal test bed market for new technologies before launching them at the global level,” Stephen Marvin, Renault Group’s executive director, said in the statement.

Through the MOU with the K-Global start-up center, Renault will be able to discover promising companies that can work with the automaker while providing active support so that they can enter overseas markets following validation in the domestic market, he said.

Yonhap