Hyundai, Kia move to set up US research center

Korea's leading automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. have signed an agreement with two U.S. universities to establish a joint research center in an effort to hone their technology development capabilities, company officials said Sunday.

The memorandum of understanding, signed with the University of California, Berkeley, and the University of California, Davis, calls for the parties to conduct a joint study on future automotive technology.

The signing of the agreement is part of the South Korean automakers' efforts to boost its status in the global car market.

"The U.S. lab will serve as a global research and development hub for Hyundai and Kia," a company executive said. "Hyundai and Kia will step up efforts to secure market-leading technologies."

Hyundai and Kia are the flagships of Hyundai Motor Group, the world's fifth-largest automotive group. (Yonhap)