Trade, Industry and Energy Minister Sung Yunmo (third from the left) visited the Hyundai Kia Namyang Technology Research Center in Hwaseong, Gyeonggi Province, on February 18, to encourage leading innovators in the green car industry after discussing with government and industry representatives the fourth basic plan for eco-friendly vehicles.

MOTIE signed a memorandum of understanding (MOU) with Hyundai Motor Company, Hyundai Glovis, LG Energy Solution, and KST Mobility to cooperate on the electric vehicle (EV) battery rental business to lower the initial burden on EV consumers and reuse EV batteries for energy storage.